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Cost of climate change action manageable
Tue Oct 3, 2006 6:20 PM BST171
LONDON (Reuters) - A commissioned study on the economics of climate change
will advocate taking action to combat global warming as soon as possible,
seeing the costs of such action as manageable, the Treasury said on
Tuesday.
The review's author Nicholas Stern, former World Bank chief economist,
presented his findings to energy and environment ministers of the world's
top 20 polluters at a meeting in Mexico on Tuesday, prior to the study's
imminent publication.
In a summary of his remarks at the closed meeting, the Treasury said Stern
contrasted the economic costs of the damage caused by uncontrolled climate
change -- saying these were potentially much higher then previously
expected -- with the costs of taking action now to cut greenhouse gas
emissions.
"Action is urgent - the earlier we start, the greater the chance we will
have of limiting the risks of dangerous climate change," the Treasury said
in its statement summarising Stern's analysis.
"The costs of action are manageable if policies are well designed."
The full conclusions of the Stern Review would be published shortly, it
added.
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