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Stern Review on Climate Change is Bad Economics

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Stern Review on Climate Change is Bad Economics

The review of the economics of climate change under British civil servant Sir Nicholas Stern, released on 30 October, has created headlines around the world. The government appealed to its findings in putting forward a battery of proposals related to its Kyoto commitments before Christmas. But how reliable are these findings? The Review calls for urgent and drastic action on climate change, claiming that acting now might cost ‘only' 1 percent of world GDP whereas doing nothing might devastate economies, cutting between 5 and 20 percent off global GDP. .


By NZBR,New Zealand.


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