The Stern Report – Economics of Climate Change

Climate change mitigation creates jobs…

Summary of Conclusions

There is still time to avoid the worst impacts of climate change, if we take strong action now. The scientific evidence is now overwhelming: climate change is a serious global threat, and it demands an urgent global response.

This Review has assessed a wide range of evidence on the impacts of climate change and on the economic costs, and has used a number of different techniques to assess costs and risks. From all of these perspectives, the evidence gathered by the Review leads to a simple conclusion: the benefits of strong and early action far outweigh the economic costs of not acting.

Climate change will affect the basic elements of life for people around the world – access to water, food production, health, and the environment. Hundreds of millions of people could suffer hunger, water shortages and coastal flooding as the world warms.

Using the results from formal economic models, the Review estimates that if we don’t act, the overall costs and risks of climate change will be equivalent to losing at least 5% of global GDP each year, now and forever. If a wider range of risks and impacts is taken into account, the estimates of damage could rise to 20% of GDP or more.

In contrast, the costs of action – reducing greenhouse gas emissions to avoid the worst impacts of climate change – can be limited to around 1% of global GDP each year.

The investment that takes place in the next 10-20 years will have a profound effect on the climate in the second half of this century and in the next. Our actions now and over the coming decades could create risks of major disruption to economic and social activity, on a scale similar to those associated with the great wars and the economic depression of the first half of the 20th century. And it will be difficult or impossible to reverse these changes.

So prompt and strong action is clearly warranted. Because climate change is a global problem, the response to it must be international. It must be based on a shared vision of long-term goals and agreement on frameworks that will accelerate action over the next decade, and it must build on mutually reinforcing approaches at national, regional and international level.

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Chip Proser was a Director-Cameraman and Producer for 7 years at WCVB-TV in Boston. He won multiple Emmys and other awards at the Peabody Award-winning ABC Affiliate, called "Arguably the Best TV Station in America" by the New York Times. He was captured by Zombies and forced to become a screenwriter in 1980 after selling his original feature screenplay "Interface" to Zoetrope Studios. Called "One of the Best Films Never Made" by American Film Magazine, the project resides at Paramount. Proser did the major page 1 rewrite on "Top Gun"; wrote "Iceman". created and wrote "Innerspace", He Created, Wrote, Produced and Directed "Sworn To Secrecy (Secrets Of War", Int’l), a documentary series for A&E; History Channel and Pearson Television. He has written projects for CBS, NBC, HBO, Warner Brothers Paramount, Columbia, Disney, ABC and wrote the interactive game "Top Gun - Fire At Will". He recently Wrote, Directed and Produced "Gaia Selene - Saving the Earth by Colonizing the Moon", a feature documentary on climate change, the energy crisis and mitigating the above by harvesting clean, renewable energy from Lunar Solar Power and Helium 3 Fusion.

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