The Case for Mitigating Greenhouse Gas Emissions

Kenneth J. Arrow

Journals

Abstract: Last fall, the United Kingdom issued a major government report on global climate change directed by Sir Nicholas Stern, a top-flight economist. The Stern Review Report on the Economics of Climate Change amounts to a call to action: it argues that huge future costs of global warming can be avoided by incurring relatively modest cost today. Notwithstanding its critics Stern’s fundamental conclusion is justified: we are much better off reducing CO2 emissions substantially than risking the consequences of failing to act, even if, unlike Stern, one heavily discounts uncertainty and the future. [Real World Economics Review No 45]

Keywords: Stern Report; climate change; economics of climate change; Co2 emissions; greenhouse gases; global climate change; environmental economics; Economics (search for similar items in EconPapers)
Date: 2008

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