The Economics of Climate Change

'The Stern Review shows us, with utmost clarity, while allowing fully for all the uncertainties, what global warming is going to mean; and what can and should be done to reduce it. It provides numbers for the economic impact, and for the necessary economic policies. It deserves the widest circulation. I wish it the greatest possible impact. Governments have a clear and immediate duty to accept the challenge it represents.' Sir James Mirrlees, recipient of the Nobel Prize for Economics, 1996

'The stark prospects of climate change and its mounting economic and human costs are clearly brought out in this searching investigation. What is particularly striking is the identification of ways and means of sharply minimizing these penalties through acting right now, rather than waiting for our lives to be overrun by rapidly advancing adversities. The world would be foolish to neglect this strong but strictly time-bound practical message.' Amartya Sen, recipient of the Nobel Prize for Economics, 1998

'The Stern Review of The Economics of Climate Change provides the most thorough and rigorous analysis to date of the costs and risks of climate change, and the costs and risks of reducing emissions. It makes clear that the question is not whether we can afford to act, but whether we can afford not to act. ... And it provides a comprehensive agenda-one which is economically and politically feasible-behind which the entire world can unite in addressing this most important threat to our future well being.' Joseph Stiglitz, recipient of the Nobel Prize for Economics, 2001

' ... the world is waiting for a calm, reasonable, carefully argued approach to climate change: Nick Stern and his team have produced one.' Robert M. Solow, recipient of the Nobel Prize for Economics, 1987

'... a comprehensive and authoritative analysis of this issue. ... is an excellent summary of current knowledge of the topic. ... presenting excellent case studies and graphices of key issues directly relevant to physical and human geography.' Geography

'I very much welcome The Stern Review, which provides a much needed critical economic analysis of the issues associated with climate change ...' Paul Wolfowitz, President of the World Bank

'Nicholas Stern ... rose to the challenge admirably. ... the Stern report is a landmark publication. It is a wide-reaching report from a man of gravity, and should be taken seriously. ... This book is extremely readable, and something that all interested in climate change and its consequences should have.' Journal of Biosocial Science

'The Stern Review of The Economics of Climate Change is a vital step forward in securing an effective global policy on climate change. Led by one of the world's top economists, the Stern Review shows convincingly that the benefits of early global action to mitigate climate change will be far lower than the costs. The report establishes realistic guidelines for action ... The Ste...

Sir Nicholas Stern is Adviser to the UK Government on the Economics of Climate Change and Development, reporting to the Prime Minister. As well as being Head of the Stern Review on the Economics of Climate Change, he is Head of the Government Economic Service, and previously Second Permanent Secretary to Her Majesty's Treasury and Director of Policy and Research for the Prime Minister's Commission for Africa. He is also a former Chief Economist for the World Bank and Special Counsellor to the President of the European Bank for Reconstruction and Development. His research and publications have focused on economic development and growth, economic theory, tax reform, public policy and the role of the state and economies in transition. He is a Fellow of the British Academy and a Foreign Honorary Member of the American Academy of Arts and Sciences. His most recent book is Growth and Empowerment: Making Development Happen (MIT Press, 2005).

1. Climate change: our approach; 2. Impacts of climate change on growth and development; 3. The economics of stabilisation; 4. Policy responses for mitigation; 5. Policy responses for adaptation; 6. International collective action.