The Economics of Climate Change: British Stern Report make waves
There have been countless reports regarding global warming and its relation to greenhouse gases, but one recent British study in particular is getting more notoriety than most. The basic premise of the report isn't necessarily groundbreaking. It says that at our current rate of greenhouse gas emissions, climate change will have a severe impact on the global economy. It concludes that the cost for not only governments but also businesses and consumers would be significantly less if we were to take measures now to curb global warming rather than deal with the impending consequences. The study's actual title is The Economics of Climate Change, but from most articles I've seen, it's more commonly referred to as the Stern Report. Nicholas Stern, the report's author, is not known as an environmentalist with an agenda. Instead, he's a former chief economist and senior vice president of the World Bank and a widely respected economic adviser to the British government.
Even though this is a British report and has received most of its heralded attention and support from European institutions, The Car Connection notes that this could still have a large impact on American automakers because more so than ever before, we're in "an era of global platforms and integrated product development."
If you're interested in reading more about the Stern Report, Reuters printed a short summary of costs in the study, or you can download the entire report in a PDF format here.
[Source: The Car Connection]
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