Report's stark warning on climate By Robert Peston, Business Editor, BBC News

[eppur_se_muova]

Analysis
By Robert Peston
Business Editor, BBC News

The Stern Review says that climate change represents the greatest and widest-ranging market failure ever seen. And on the basis of this intellectually rigorous and thorough report, it is hard to disagree.
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His central argument is that spending large sums of money now on measures to reduce carbon emissions will bring dividends on a colossal scale. It would be wholly irrational, therefore, not to spend this money.
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Even to stabilise at {500 to 550 parts per million of carbon dioxide equivalent}, emissions per unit of gross domestic product (GDP) would need to be cut by an average of three-quarters by 2050 - a frightening statistic.

As well as decarbonising the power sector by 60%-70%, there will also have to be an end to deforestation - emissions from deforestation are estimated at more than 18% of global emissions, more than transport. And there will have to be deep cuts in emissions from transport.

The costs of these changes should be around 1% of global GDP by 2050 - in other words the world would be 1% poorer than we would otherwise have been, which would be significant but far from prohibitive.
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more: http://news.bbc.co.uk/2/hi/business/6096594.stm

[LeftCoast]

1. Wow...really interesting.

I'm going to read the whole thing right now. This really seems to lay it out in totally different sort of terminology. The sort an international banker would understand. :)

Edited to add:

After reading the entire article, I'm even more impressed. You could build an entire campaign around the 1% now or 20% later statistic. I hope more people hear about this.