This would necessitate a reduction of global C02 emissions by at least half (or 30-85 per cent, depending on countries’ current emission levels) till 2050, relative to the emission levels of 1990 (IPCC, 2007, IEA, 2007:206) (see figure 2 for the required cuts). For developed countries, these targets imply reductions of between 80 and 90 per cent of GHG emissions. In other words, what is required is nothing short of a new industrial revolution that decarbonizes the economy. The potential in this regard is huge. With drastic reductions in material/energy input costs, there is much more room for manoeuvre to invest in R&D and staff training (both extremely important for strategic competitiveness) as well as to increase wages and employment opportunities. As Bleischwitz (2009: 4 and 9) correctly underscores, a resource-efficiency enhancing approach has the advantage of combining climate, energy and waste-policy aspects with the core economic interest in cost reduction and innovation.