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Get Serious About Global Warming: The Stern Review 14 November 06

Sir Nicholas SternThe Stern Review, the UK government's expert report on the economics of global warming released October 30th, made waves with its pronouncement that it will be more cost-effective to take action to reduce climate change than face the economic consequences of failing to act.

"The costs of stabilizing the climate are significant but manageable; delay would be dangerous and much more costly." according to Sir Nicolas Stern, Head of the Government Economic Service, former World Bank Chief Economist.

Some of the more surprising assertions of the Stern Review for 2050:
  • Stabilizing greenhouse gases will cost about 1 per cent of annual global output. With no action, climate change will reduce global consumption per head between 5 and 20 per cent.
  • The global power sector will have to be at least 60 - 75 per cent, decarbonized to stabilize greenhouse gases
  • Markets for low-carbon energy products will be at least $500 billion (U.S.) per year.
  • Emissions from deforestation represent more than 18 per cent of global emissions, a share greater than the global transport sector.
WWF-Canada said the Stern Review calls into question Canada's lack of immediate urgent action on global warming and urged the Canadian government to deliver on its international obligations under the Kyoto Protocol.

"From Canada's melting Arctic to dying coral reefs, nature is the canary in the coal mine. Now that it is clear the world's economy will also receive a major blow, governments and industry must get serious about reducing fossil fuel pollution." said Julia Langer, Director of WWF-Canada's Global Threats Program.

View the October 30, 2006 UK Government press release
View the Stern Review on the Economics of Climate Change
View the October 26, 2006 Guardian Unlimited article
View the October 30, 2006 WWF Canada press release
View the October 30, 2006 Toronto Star article
View the October 31, 2006 Guardian Unlimited Commentary by George Monbiot

Sources: UK Government, Toronto Star, WWF Canada


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