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The Economics of Climate Change: The Stern Review Paperback – January 15, 2007

ISBN-13: 978-0521700801 ISBN-10: 0521700809

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Product Details

  • Paperback: 712 pages
  • Publisher: Cambridge University Press (January 15, 2007)
  • Language: English
  • ISBN-10: 0521700809
  • ISBN-13: 978-0521700801
  • Product Dimensions: 9.4 x 6.7 x 1.6 inches
  • Shipping Weight: 3.1 pounds (View shipping rates and policies)
  • Average Customer Review: 3.7 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Best Sellers Rank: #341,060 in Books (See Top 100 in Books)

Editorial Reviews

Review

"National wealth, it turns out, will begin to disappear along with the countless species that aren't adjusting fast enough to the changing environment. Stern's report warns in economic terms that humanity might be one of those species...Stern, a former chief economist of the World Bank, approached the scientific evidence with a fresh eye and rapidly became convinced that if we act now we can avoid the very worst...[His] message succeeds because he appeals not to sentiment, nor even to environmental responsibility, but to the naked self-interest of capitalism."
Vanity Fair, The Green Issue, May 2007


"[The report's] basic point seems unassailable: failure to act now will exact much greater penalties later on...If people and industries are made to pay heavily for the privilege, they will inevitably be driven to develop cleaner fuels, cars and factories... "
The New York Times
< "The [Stern] report argues that environmentalism and economic growth can go hand in hand in the battle against global warming...The report by Sir Nicholas Stern, a senior government economist, represents a huge contrast to the U.S. government's wait-and-see policies."
Chicago Tribune
"Pay now to fix global warming or risk a worldwide economic depression later...The [Stern] report moves economic discussion of how humanity should deal with global warming to center stage..."
USA Today

"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, Nobel Prize economist 1998
"The Stern report 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."
James Mirrlees, Nobel Prize economist 1996

"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. To be sure, there are uncertainties, but what it makes clear is that the downside uncertainties—aggravated by the complex dynamics of long delays, complex interactions, and strong non-linearities—make a compelling case for action. 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, Nobel Prize economist 2001

"The Bank is committed to addressing the dangers of climate change and has made substantial progress in developing an Investment Framework for Clean Energy And Development. I very much welcome the Stern Review which provides a much needed critical economic analysis of the issues associated with climate change, and complements the recent IEA technology assessment and the World Bank's Clean Energy Investment Framework paper. The Bank is today working closely with its clients and partners to turn our analysis into practice, and will seek to substantially increase its own investment flows and those of the private sector. A crucial next step is to involve the private sector in the EIF. I am therefore pleased to support a partnership between the World Bank and the World Economic Forum and the World Business Council on Sustainable Development to stimulate private sector investment through the Energy Investment Framework. Chancellor Gordon Brown and I will co-host a conference early next year to launch the partnership. "
Paul Wolfowitz, President of the World Bank

"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 (based on long-term stabilization ceilings for greenhouse gases), core elements of an effective global policy (carbon pricing, technology policy, and removing barriers to change), and a framework for international cooperation that must include all regions of the world, both developed and developing. The Stern Review will play an important role in helping the world to agree on a sensible post-Kyoto policy."
Prof. Jeffrey D. Sachs, Director of the Earth Institute at Columbia University, Special Advisor to UN Secretary General Kofi Annan

"Future generations may come to regard the apocalyptic report by Sir Nicholas Stern...as the turning point in combating global warming, or as the missed opportunit...what Sir Nicholas Stern has done with his report on the economics of climate change is remarkable; he has ripped up the last excuse for inaction...one wouldn't want to exaggerate, but it does feel like one of those moments that are truly historic...the first really comprehensive review of the economics of climate change. For nearly 20 years it has been the science of climate change that has made all the headlines...We've heard a thousand calls to action, to stop global warming happening. But what would that cost the world? And what would doing nothing cost us?...now Sir Nicholas Stern and his team have come up with concrete numbers."
The Independent

"Climate change can impose enormous costs on mankind and particularly on the innocent poor people. The uncertainty that is used as an excuse not to act works both ways. If the impact is larger than expected it could be catastrophic. Sir Nick Sterns report is valuable as it shows the need to act now and that the costs of action are modest. One hopes it will spur to action those who are responsible for creating this threat."
Kirit Parikh Member, Planning Commission, Government of India

"The Economics of Climate Change sends a very important and timely message: that the benefits of strong, early action on climate change outweigh the costs. That conclusion is one that the International Energy Agency fully endorses - notably in its World Energy Outlook 2006 to be published next week. Congratulations to Sir Nick Stern and his team for producing a landmark review which I have no doubt will strengthen the political will to change of governments around the world."
Claude Mandil, Executive Director of the International Energy Agency

"The scientific evidence of global warming is overwhelming but some commentators and lobby groups have continued to oppose offsetting actions on economic and competitiveness grounds. This comprehensive and authoritative report demolishes their arguments, explaining clearly the complex economics of climate change. It makes plain that we can cut emissions radically at a cost to the economy far less than the economic and human welfare costs which climate change could impose "
Adair Turner, Former Director of UK Confederation of British Industry and Economic Advisor to Sustainable Development Commission

"I support the Stern Review's conclusion that there is a strong economic case for taking early, effective action to reduce greenhouse gas emissions. This clearly has important implications for transport policy, which my own study is taking into account - sustainable economic growth cannot be achieved in any sector without tackling the effects of our actions on the environment."
Sir Rod Eddington, Adviser to the UK Government on the long term links between transport and economic growth, and former Chief Executive of British Airways

"When the history of the world's response to climate change is written, the Stern Review will be recognized as a turning point. Sir Nicholas and his team have provided important intellectual leadership as humanity engages with its greatest challenge. While the details will be debated, the main thrust of the report is clear and compelling — the expected benefits of tackling climate change far outweigh the expected costs."
Cameron Hepburn, Oxford University

"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."
James Mirrlees, recipient of the Nobel Prize for Economics, 1996

"...a comprehensive overview of the threat posed by climate change - and how we should respond to it...Sir Nicholas Stern spells out a bleak vision of a future gripped by violent storms, rising sea-levels, crippling droughts and economic chaos unless urgent action is taken to tackle global warming...a heavyweight review...Sir Nicholas Stern's review of the economic impact of global warming is a watershed. The former World Bank chief economist has put a price-tag on saving the planet...Sir Nicholas is a sober and respected economist, which makes his findings all the more chilling."
The Daily Telegraph

"The overwhelming message of...[the] Stern review on the economics of climate change is that it is now time to move on from arguing about statistics to taking drastic action at an international level...Even if Stern is only half right then...the consequence of doing nothing is still so dreadful that it ought not to be contemplated."
The Guardian

Book Description

The Stern Review is an independent, rigourous and comprehensive analysis of the economic aspects climate change. It will be invaluable for all students of the economics and policy implications of climate change, and economists, scientists and policy makers involved in all aspects of climate change.

Customer Reviews

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Most Helpful Customer Reviews

5 of 6 people found the following review helpful By Future Watch Writer on June 15, 2009
Format: Paperback
This is a very important document on climate change and has won the respect of experts around the world. It was commissioned by the British government in 2005. It took two years to complete and was headed by Nicholas Stern, the former Chief Economist of the World Bank. You may or may not agree with all its findings but it remains one of the most professional studies of whole climate change situation, integrating global economic realities with science. Stern has written a less expensive book of his views that came out in 2009 The Global Deal: Climate Change and the Creation of a New Era of Progress and Prosperity. I would also recommend Lester Brown's Plan B 3.0: Mobilizing to Save Civilization (Substantially Revised).
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2 of 2 people found the following review helpful By Nick on October 30, 2010
Format: Paperback Verified Purchase
This is a great book for a Ph.D. econometrician, but it sucks big time for the typical reader. Reading it is like plowing a field of rock with a horse drawn plow with a dull blade.

However, for Ph.D.s and Master degreed researches it is wonderful because it is data-filed and does the best job with the science at hand. It shows how climate change can impact the world more than all the wars in history put together.

But someone needs to write this book for the typical interested reader. The Plan B book does a better job in this regard, but Plan B is not as valuable for egg-heads.

This is not a book you will enjoy reading, it will be a pain in the neck and you will put it down over and over and need to come back to it. But it has such valuable information you will find the need to return to it over and over if this is your field.
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This book is so informative about climate change that if anyone wants some information about it is a must read. It is easy to read and understand.
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Format: Paperback
As shown by the IPCC TAR 4 report (available for free at the IPCC web site), the world's scientific community is now even more certain of the severity of the impacts of human-induced climate change, and has observed faster changes than expected, e.g. the rapid melting of arctic ice. Accordingly, Nicholas Stern stated in 2013 that "he underestimated the risk". The Stern Review does not make for light reading, but like the IPCC reports, it is based on the best global scientific research available at the time.
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