05 Apr '12, 7pm

Chump change: Stopping global warming is much cheaper than you think

Chump change: Stopping global warming is much cheaper than you think

You’ve heard it before: Politicians say they’d love to take action against climate change, but they’re reeling from sticker shock. Today, a new report from the U.K.’s leading climate change watchdog refutes this oft-cited argument that climate action will herald economic Armageddon. The Committee on Climate Change (CCC) report, with the hairy-sounding title “Statutory Advice on Inclusion of International Aviation and Shipping,” says that in 2050, the U.K.’s emissions reductions across the whole economy will cost 1 to 2 percent of the total GDP. This updates, in greater detail, the range predicted half a decade ago by the watershed Stern Review . Just how much is that? For a rough comparison, one percent of the U.K.’s 2011 GDP is a little more than what the country currently spends on public housing and community amenities, and is nowhere near the big-ticket public spending...

Full article: http://grist.org/climate-change/chump-change-stopping-glo...

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