The Stern Report: The Economics of Climate Change

The Review first examines the evidence on the economic impacts of climate change itself, and explores the economics of stabilising greenhouse gases in the atmosphere. The second half of the Review considers the complex policy challenges involved in managing the transition to a low-carbon economy and in ensuring that societies can adapt to the consequences of climate change that can no longer be avoided.

The Review takes an international perspective. Climate change is global in its causes and consequences, and international collective action will be critical in driving an effective, efficient and equitable response on the scale required. This response will require deeper international co-operation in many areas - most notably in creating price signals and markets for carbon, spurring technology research, development and deployment, and promoting adaptation, particularly for developing countries. Read the Executive Summary

The Stern Report makes strong assumptions that cause the estimated damages from climate change to be much higher than previously thought.

One of the critical, and questionable, linchpins of the Stern Report is that technological change will drive down the cost of abatement six-fold by 2050. ...Read a critique of the Stern Report

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