Stopping Climate Change is Much Cheaper Than You Think

[xchrom]

http://motherjones.com/environment/2012/04/climate-action-cheap-david-kennedy

You've heard it before: politicians say they'd love to take action against climate change, but they're reeling from the sticker shock. Today, a new report from the UK's leading climate change watchdog refutes the oft-cited argument that climate action will herald economic Armageddon.

The Committee on Climate Change report, with the hairy-sounding title "Statutory Advice on Inclusion of International Aviation and Shipping," says that in 2050, the UK's emissions reductions across the whole economy will cost 1-2 percent of the total GDP. This updates, in greater detail, the range predicted half a decade ago by the watershed Stern Review.

Just how much is that? For a rough comparison, one percent of the UK's 2011 GDP is a little more than what the country currently spends on public housing and community amenities, and is no where near the big ticket public spending items like healthcare.

The UK has enshrined in law an emissions reduction of 80 percent on 1990 levels by 2050.


***snip

This table from the report details the cost in 2050 of meeting emissions reductions in a few different scenarios, including if fuel prices are high or low: