The Stern Review on the Economics of Climate Change

The Stern Review on the Economics of Climate Change, published in 2006, is a comprehensive report that analyzes the economic impacts of climate change. It argues that failing to address climate change could lead to severe economic losses, potentially costing the global economy up to 20% of GDP. Conversely, taking action now to reduce greenhouse gas emissions could be considerably cheaper, costing around 1% of global GDP. The review emphasizes that effective climate policies can promote sustainable growth and that investing in green technologies now is crucial for preventing future climate-related damages.