 For the first time since 2008, the word growth has been back on the agenda at the World Economic Forum annual meeting in Davos. It may be returning globally, but the question of how to nurture and use it has been prominent in discussions here. Australian Premier Tony Abbott, who's chairing the G20 Group of Nations this year, says that economic growth has the power to change everything. Stronger economic growth is the key to addressing almost every global problem. Stronger growth requires lower, simpler and fairer taxes that don't stifle business creativity. And stronger growth requires getting government spending under control so that taxes can come down and reducing regulation so that productivity can rise. Israel's Prime Minister Benjamin Netanyahu agreed in the travelled Middle East healing growth to peace. The investment in the growth of the Israeli economy is good for our society and it's also good for our neighbours, whether they realise it or not. I believe that in the peace negotiations, advancing the economic peace alongside the political peace, one does not replace the other. And in the CCTV debate on China, Goldman Sachs CEO Lloyd Blankfein predicted that growth in China would be good for the whole world. If China grows, it's great for China and that will be the principal beneficiary. But those Chinese will buy some goods that originate in America and it will be good for America too. Any growth in the world is good for everybody in the world. And with growth returning, dealing with the issues of climate change seems to be moving up the agenda here amongst the mountains of Davos. At this press conference, the European Union unveiled a target to cut carbon emissions by 40% by 2030, a move welcomed by the UN. In September I will host a climate summit in New York. I am asking government, business, finance and civil society to come with a bold announcement and actions because achieving an ambitious and legal climate agreement will require political leadership. Politicians will be back on stage here in Davos tomorrow with sessions from the UK Prime Minister David Cameron and Israel's President Shimon Perez.