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Philip Lawn
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“In late-2006, the most publicised government-commissioned report on the economics of climate change was released. Soon to be widely known as the Stern Review, the report concluded that it would be necessary to invest at least one per
cent of Gross World Product (GWP) every year to avoid climate change damage costs equivalent to the annual loss of 5–20 per cent of GWP (Stern 2007).
The Stern conclusions were soon supported in 2007 with the publication of the fourth series of IPCC reports declaring that the cost of reducing emissions would be significantly less than the cost of climate change damages (IPCC 2007a). Also
stressed by the IPCC was that “warming of the climate system is unequivocal” and that it was “very likely that global warming is the result of human activities”
―
cent of Gross World Product (GWP) every year to avoid climate change damage costs equivalent to the annual loss of 5–20 per cent of GWP (Stern 2007).
The Stern conclusions were soon supported in 2007 with the publication of the fourth series of IPCC reports declaring that the cost of reducing emissions would be significantly less than the cost of climate change damages (IPCC 2007a). Also
stressed by the IPCC was that “warming of the climate system is unequivocal” and that it was “very likely that global warming is the result of human activities”
―
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