Economic review counts costs of climate change
The United Kingdom's Stern report calls for investment into technologies and adaptation.
Today the UK government releases a report by chief economist Sir Nicholas Stern, on the financial costs of climate change, and the counter-costs of efforts to mitigate or adapt to the changing world. Here news@nature.com unpicks how this report differs from those that have come before, and why it is important.
Read the briefing here.
Comments
I would say the climate change, that has been in part generated by humans, had taken already a big toll. And it also costed alot of money, spent with intention or circumstancially.
I am referring to wars at sea, which had a thremendous influence on climate change. To underline the issue, I strongly suggest to read the thesis issued by dr. Bernaerts, "Booklet on Naval War changes Climate", in which the author describes how war at sea changed the climate. I found it very pertinent and well argumented.
Posted by: angela | October 31, 2006 10:48 AM
Nick Stern is an eminent development economist. He was well-placed as the Chief Economist of the World Bank.
Eminence in one subdiscipline does not imply that one can speak authoritatively in any area of economics, however.
The Stern Review does not contain new and original analysis. It only review existing material. It is all the more surprising, therefore, that the conclusions are so out of line with what was published previously.
A closer inspection of the Stern Review reveals that the literature was read very selectively. Only the most pessimistic estimates were included. The Stern Review also violates basic economic methods, and makes peculiar assumptions on valuation -- in all cases, further increasing the estimates.
As a piece of research, the Stern Review falls woefully short of academic standards. The conclusions are woefully alarmist.
Details about my concerns can be found at http://sciencepolicy.colorado.edu/prometheus/archives/climate_change/000974the_stern_review_on_.html
Posted by: Richard Tol | October 31, 2006 04:05 PM
"He had a year and the help of more than 20 of Britain's brightest civil servants and academics", from Nature's own coverage. let's not forget it was a team effort. Perhaps one could examine potential political bias within the team; were they selected with any preconcieved bias etc.? I personally know very little about the report yet, outside of what the mainstream media have fed me, so I shall reserve judgement...
Posted by: Tideliar | October 31, 2006 10:55 PM
The acedemic community can debate this report "until the cows come home" but they appear unable to understand that although the general public would like certainty their desire for insurance is far greater. One does not wait until a fire occurs before insuring one's home. Unfortunately the debate will not remain within acadame but will be used by those who foresee financial penalty or political gain to advocate inaction. It is far wiser to insure against a remote possibility than to wait until it becomes a high probabillity. After all,if the possibility disappears, then the insurance may be cancelled. Regrettably this aspect of the "Climate Change Problem" has not been presented to the general public. For myself, having viewed the incredibly large number of studies, analyses and opinions pointing to the possibility of a catastrophic outcome,I feel it would be totally foolhardy not to insure against such a possibility by acting now.
Posted by: Roy Salisbury | November 3, 2006 05:45 AM
More and more alarm signals must be pulled. The general public must be reached from all directions: environmental, financial, etc. I am very interested in the matter, as I am very shoked by the rapid changes that climate passes through.
I share the opinion that the ocean and, by expanding, the war at sea and the ocean activity, have a great impact on the way the climate changes. In order to determine steps in stabilizing the climate, I guess we must first understand how we got in this situation in the first place. I have found an interesting, to say the least, thesis on the matter: http://www.1ocean-1climate.com/, where A. Bernaerts has a synthesis of his booklet on Naval War changes Climate.
Posted by: angela | November 20, 2006 04:53 PM