Timeline Events / The Stern Review on the Economics of Climate Change
The Stern Review is a 700-page report released for the British Government in 2006, led by economist Nicholas Stern, on the economics of mitigating and adapting to climate change. This was the first serious attempt by any government to try to quantify in monetary terms the impacts of climate change.
The report concludes that global climate change is the greatest market failure the world has ever seen, and that the potential risk is so great that the benefits of strong, early action far outweigh the costs.
The report sparked widespread public debate and interest into the potential economic magnitude of anthropogenic climate change.
Timeline entry contributed by Emily Cox
Source: Stern Review (available online)