The Stern Review concludes doing nothing will result in more economic harm than taking action. Using economic models Stern estimates that if we don’t act, the cost of climate change will be equivalent to at least 5% of global GDP each year. Estimates of costs could rise to 20% of GDP or more. In contrast, the costs of reducing greenhouse gas emissions to avoid the worst impacts of climate change can be limited to around 1% of global GDP each year.
One degree
