The much-publicised report by economist Nicholas Stern, released on October 30, suggests that global warming could shrink the global economy by 20 per cent. It adds that taking action now would cost just one per cent of global GDP but that inaction would lead to devastating economic consequences.
“Up to now, we knew climate change was an environmental issue as well as a moral issue, since developing countries suffer more from its impact,” Dimas said before a meeting with Stern on Thursday. “The Stern report has shown that it is also an economic, social and political problem.” “The cost of inaction will be much greater than the cost of acting now,” Dimas insisted.
“And the later we act, the more expensive it will be.” The Stern report, commissioned by the UK government, is the first major contribution to the climate change debate by an economist rather than an environmental scientist.
Posted on 14th November 2006
IEMA reacts to IPCC report: AR6 Climate Change 2021
- 9th August 2021
IEMA reacts to CCC Progress report to Parliament
- 24th June 2021
IEMA reacts to Climate Change Committee Report
- 15th June 2021
IEMA Reacts to Queen’s Speech
- 11th May 2021
Enhancing Scotland’s EIA Community - Scotland’s EIA Conference 2021 moves online
- 22nd April 2021
IEMA launches senior management briefing on how organisations can benefit from effective environmental auditing
- 29th March 2021