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As DD Eco Notes mentions, the Stern Report is out.
I have pulled some of the most 'stern' research.
World Bank Sir
Nicholas Stern, argues that man-made global warming will result in flooding and
droughts that could cause a 20 percent collapse in the world economy, while
acting now to limit climate change would cost just one percent of global GDP.
As DD Eco Notes mentions, the Stern Report is out.
I have pulled some of the most 'stern' research.
World Bank Sir
Nicholas Stern, argues that man-made global warming will result in flooding and
droughts that could cause a 20 percent collapse in the world economy, while
acting now to limit climate change would cost just one percent of global GDP.
The EU should aim to reduce its
carbon dioxide (CO2) emissions by 30% below 1990 levels by
2020 and by at least 60% by 2050, UK finance minister Gordon
Brown said on 30 October. The current target, set by the Kyoto
Protocol, is to cut CO2 emissions by just 8% by 2012.
The review estimates
the cost of stabilising the concentration of GHGs in the atmosphere
at the equivalent of 500-550 parts per million (ppm) CO2 to
be around 1% of GDP by 2050, a level it describes as "significant
but manageable". If no action is taken, however, concentrations
are likely to rise to 850ppm which could reduce GDP by as
much as 20% by 2050, Stern says.
Each tonne of CO2 emitted now is causing damage worth at
least $85, the report says, but there are many opportunities
to cut emissions at much lower cost. "In other words,
reducing emissions will make us better off," Stern concludes.
Over time, the benefits of shifting the world onto a low-carbon
path could be in the order of $2.5 trillion/year, he notes.
Failure to take action, however, would result in a 50% risk
of an average global temperature rise of 5ºC in coming
decades. To put this into context, he noted that current temperatures
are only around 5ºC warmer than during the last ice age.
the review calls
for a sharp increase in spending and says a doubling of R
& D investments to around $20 billion/year is likely to
yield high returns. By 2010, the global market for environmental
technology could be worth almost $700 billion ? as much
as the pharmaceuticals and aerospace industries of today
Curbing deforestation is also identified as a highly effective
way of reducing greenhouse gas emissions ? they are estimated
to represent more than 18% of global emissions, more than
is produced by the global transport sector.
Richard Barrington (my UK expert) of Sun Microsystems predicted major changes were now
inevitable. ...
other key sources:
http://www.environmental-finance.com/onlinews/0211ste.htm
http://www.computing.co.uk/itweek/news/2167730/stern-report-spark-surge-green
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