OCTOBER 2006: THE STERN REVIEW (on global warming)
On October 30, respected economist Sir Nicholas Stern delivered a 700-page report, ‘The Stern Review on the Economics of Climate Change’, commissioned by the British government.
Exploring the effects of climate change and global warming on the world’s economy, the report concluded that 1% of global gross domestic product (GDP) per annum must be invested in mitigating climate change. Failure to do so could risk global GDP being up to 20% lower than it otherwise might be, representing the widest-ranging market failure ever seen.
Nobel prize-winning economist James Mirrlees stated of the review, "The Stern report shows us, with utmost clarity, while allowing fully for all the uncertainties, what global warming is going to mean; and what can and should be done to reduce it. It provides numbers for the economic impact, and for the necessary economic policies. It deserves the widest circulation.”
Retrieved 24 April 2010 from The Burning Season Website:http://www.theburningseasonmovie.com/storyline/october-2006-the-stern-review/249
For the report - google search: [ARCHIVE CONTENT] Stern Review Report
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