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No Climate Action May Spark Economic Crisis: Report
Submitted by Bill Becker on 02/Nov/2006
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LONDON (Reuters) - Ignoring climate change could lead to economic upheaval on the scale of the 1930s Depression, underlining the need for urgent action to combat global warming, a British report on the costs of climate change said.
The report by chief British government economist Nicholas Stern, a 27-page summary of which was obtained by Reuters, says the benefits of determined worldwide steps to tackle climate change would greatly outweigh the costs.
The 700-page report, to be published on Monday, said that no matter what we do now the chance "is already almost out of reach" to keep greenhouse gases at a level which scientists say should avoid the worst effects of climate change.
It said the world does not have to choose between tackling climate change and economic growth, contradicting President Bush who pulled out of the Kyoto Protocol against global warming in part because he said it would cost jobs.
"The evidence gathered by the review leads to a simple conclusion: the benefits of strong, early action considerably outweigh the costs," said the report, prepared for British Prime Minister Tony Blair and finance minister Gordon Brown.
Link to the report at:
http://www.hm-treasury.gov.uk/Independent_Reviews
/stern_review_economics_climate_change/sternreview_index.cfm
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