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The Stern Report (Cost of Global Warming.)
The Stern report was commisioned by Her Majestys Treasury and was carried out by Lord Stern a renowned economist.
Stern report. (Long and short versions and other documents.) To fuel debate I will quote this from the executive summary (short): [ QUOTE ] Using the results from formal economic models, the Review estimates that if we don’t act, the overall costs and risks of climate change will be equivalent to losing at least 5% of global GDP each year, now and forever. If a wider range of risks and impacts is taken into account, the estimates of damage could rise to 20% of GDP or more. In contrast, the costs of action – reducing greenhouse gas emissions to avoid the worst impacts of climate change – can be limited to around 1% of global GDP each year. [/ QUOTE ] That should get the party started. |
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