What's Good For The Environment Is Good For General Motors, And Vice Versa

The pathetic fallacy that concern for the environment is bad for the economy took another hit today with the release of a report which indicates that Failure to Manage Global Warming Would Cripple World Economy

LONDON, UK, October 30, 2006 (ENS) - The most comprehensive review ever carried out on the economics of climate change warns that global warming could inflict worldwide disruption as great as that caused by the two World Wars and the Great Depression. Published today and launched at the offices of the Royal Society in London, the Stern Review estimates that US$9 trillion dollars would be the global economic cost of doing nothing.

The review, sent to Prime Minister Tony Blair and Chancellor Gordon Brown, was commissioned by the chancellor in July last year. It was carried out by Sir Nicholas Stern, head of the Government Economic Service and a former World Bank chief economist.

Sir Nicholas said today, "The conclusion of the review is essentially optimistic. There is still time to avoid the worst impacts of climate change, if we act now and act internationally. Governments, businesses and individuals all need to work together to respond to the challenge. Strong, deliberate policy choices by governments are essential to motivate change."

"But the task is urgent," Sir Nicholas warned. "Delaying action, even by a decade or two, will take us into dangerous territory. We must not let this window of opportunity close."

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