Climate Change and the Stern Review

Climate Change and the Stern Review

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Climate change is one of the biggest challenges facing the world today and requires an urgent response from Government, industry and the individual. This inquiry was triggered by the publication of the Stern Review on qThe Economics of Climate Changeq (2006, ISBN 9780102944204), which stressed the need to stabilise carbon emissions sooner rather than later, and warned of potentially catastrophic impacts if that was not achieved. The Review framed the climate change debate in terms of economic choices, and considered the use of economic tools such as environmental taxation and permit trading schemes as economically-efficient mechanisms for cutting emissions. This Report recommends that the Government give primary consideration to the use of economic tools in combating climate change: The Treasury's policies and action in this regard were the main focus of the inquiry. The report looks at work on this topic by the Treasury and other select committees. It then assesses the economics of the Stern Review, and examines the Government's approach to reducing emissions. Further sections cover emissions trading schemes, environmental taxes and adaptation (designed to counter the negative impacts caused by time lags in global and local ecosystems). The Committee calls for a twin track approach involving both adaptation and mitigation.... light bulbs (in the aisle at Tesco), heating systems (when their boiler breaks down and they reach for Yellow Pages), ... in relation to council tax, though such schemes may be better considered as marketing schemes for insulation measuresanbsp;...

Title:Climate Change and the Stern Review
Author:Great Britain: Parliament: House of Commons: Treasury Committee
Publisher:The Stationery Office - 2008


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