Stern Review published

31st October 2006

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Climate Change is “the greatest and widest-ranging market failure ever seen” according to the Stern review on the economics of climate change.

The official HM Treasury page is here and the BBC has a good synopsis of the report.

Other climate change links are here.

The Stern review talks the language of this article on the problems faced by people pursuing environmental and development agendas.

“The power of economics can move companies, individuals, and governments far more effectively. The U.S. tobacco industry has been hugely impacted by the economic impact of lawsuits and anti-smoking laws and advertising. The moral arguments that the anti-smoking community makes fall on largely deaf ears in the corporate suite, but the market and profit impacts of reducing the number of smokers have triggered the beginnings of real change … My advice to students would be to take their personal instincts and to figure out not how to convince someone that they are right, but how to convince someone that it is in their economic interest to act in accord with those instincts.”