Economic Incentives to Fight Climate Change

graphI don’t think we need another reason to do all we can to curb climate change, but Sir Nicholas Stern a British economist has found one more. Climate change is obviously going to hinder economic progress, yet large corporations argue that there is nothing to worry about – well Stern is predicting massive economic repercussions if we don’t act on curbing climate change. The BBC reports that Stern argues “global warming could shrink the global economy by 20%.”

So, what is this story doing on a good news website? Well, there is good news in all of this. The Stern report can hopefully influence those who decide policies to act in favour of the environment and sway those who still doubt climate change is going to hurt us. British PM Tony Blair is already arguing for action.

We also have time to react to climate change according to Stern. He said “That’s why I’m optimistic – having done this review – that we have the time and knowledge to act. But only if we act internationally, strongly and urgently.”

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