“Using the results from formal economic models, the Review estimates that if we don’t act, the overall costs and risks of climate change will be equivalent to losing at least 5% of global GDP each year, now and forever. If a wider range of risks and impacts is taken into account, the estimates of damage could rise to 20% of GDP or more.
In contrast, the costs of action – reducing greenhouse gas emissions to avoid the worst impacts of climate change – can be limited to around 1% of global GDP each year.”
Source: Stern Review Report on the Economics of Climate Change – Summary of Conclusions – HM Treasury (PDF)
Date: 2006
Source: Office of Climate Change (OCC) – Stern Team
Date: NA
Climate Change Costs
