Government pledges action
Updated on 30 October 2006
Government reacts to apocalyptic climate change warning.
It's an apocalyptic vision - economic growth slashed, millions of people displaced, the poor made even poorer.
This is the fate of the planet if nothing is done to counter climate change, according to the World Bank's former chief economist.
In the British government's first economic assessment of the damage caused by greenhouse emissions, Sir Nicholas Stern says doing nothing is not an option. But his ideas for avoiding disaster are just as challenging.
Without taking action - Sir Nicholas warns global warming could shrink the world economy by 20 per cent - with poorest countries hit the hardest.
Two hundred million people could be displaced by floods and drought.
The review calls for a global system to trade in carbon emissions. But that is something the world has never managed to agree on before. Closer to home, the Chancellor has promised a climate change bill in the next Queens Speech, with a commitment to cut the UK's emissions by 60 per cent by 2050.
That's a massive reduction - and achieving that kind of target would mean real sacrifice, right now. Something that industry - and consumers - might not be prepared to take on.
- Studio debate with David Miliband
