Nicholas Stern, one of the world’s most influential economists, has come out with a new report showing that the future costs of climate change have been incredibly underestimated.
The report, Endogenous growth, convexity of damages and climate risk, indicates it is even more important than previously thought that politicians quickly and aggressively stop unchecked climate change caused by man-made carbon dioxide emissions.
Stern, a professor at the Grantham Institute at the London School of Economics, and his co-author Simon Dietz found that the current economic models used to calculate the cost of climate change are vastly inadequate and need to (Read more…)