Archived press release

Stern Review to reveal cost of climate change

26 October 2006

The economic costs of climate change are expected to be revealed on Monday 30 October when the Government publishes the long-awaited Stern Review. The report is expected to warn of a global economic catastrophe unless urgent immediate action is taken to tackle the threat of climate change.

With the scientific evidence providing the compelling call for action to cut carbon emissions, the report is expected to focus on the economic arguments, making a clear case for developed countries to invest in building low carbon economies; as well as spelling out the urgent need for greater assistance for developing countries which are already bearing the brunt of a changing climate.

Many governments had thought it made more economic sense to wait before taking action - but Sir Nicholas Stern, a former chief economist with the World Bank is predicted to argue strongly that the economic cost of acting now is far lower than costs if action is delayed.

Friends of the Earth said it hoped the findings of the report would give impetus to the UN international climate talks scheduled to start in Nairobi, Kenya, next week (6 November).

Friends of the Earth International Climate Campaigner Catherine Pearce said:

"The Stern Review is expected to highlight the need for urgent action at an international level. There is no excuse for delay. We know that immediate efforts are required to cut emissions in the developed world. The green technology to take us to a low carbon future is available - what it requires is the investment. As we approach the climate talks in Nairobi, it is essential that ministers pay heed to the warning and negotiate for tough cuts in carbon dioxide emissions after 2012."

Friends of the Earth's Economy Campaigner Simon Bullock said:

"The UK Government must listen to the findings of this report and recognise that it has a major job to do in factoring the climate into its management of the UK economy. That is why we need a climate bill to ensure that cutting carbon dioxide is a priority across government. Government can make it easier and cheaper for business, for industry and for individuals to reduce their carbon emissions - and the pre-budget speech is an opportunity to do so. Tackling climate change is good news for the economy. Failing to do so spells catastrophe."

The Stern Review on the Economics of Climate Change will be published on Monday 30th October when Sir Nicholas Stern will present his conclusions at the Royal Society.

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Published by Friends of the Earth Trust