Climate change costs in the ring now

This is reasonably big news in the UK and so for my international readers, a chance to be ahead of the game in what could turnout to be a fairly significant report.

Downing Street and the Treasury believe that the report marks a decisive moment in international politics. Stern's is the first heavyweight contribution by an economist rather than a scientist and senior officials believe he will make what might seem a hopelessly ambitious timetable credible. 'This will give us an argument to make,' said a Whitehall source. 'I think we are at a tipping point in terms of the debate, as we were at a tipping point in 2004/05 in terms of the science.'

It's interesting that the argument is being pitched at the level of 'act now and pay less':

Stern's forecast cost of 1 per cent of global GDP is roughly the same amount as is spent worldwide on advertising, and half what the World Bank estimates a full-blown flu pandemic would cost. Without early intervention, he estimates the cost would be 5-20 per cent of GDP

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