Tackling Global Warming Cheaper Than Ignoring It

Coryoth writes, "In a report commissioned by the UK government, respected economist Sir Nicholas Stern concludes that mitigating global warming could cost around 1% of global GDP if spent immediately, but ignoring the problem could cost between 5% and 20% of global GDP. The 700-page study represents the first major report on climate change from an economist rather than a scientist. The report calls for the introduction of green taxes and carbon trading schemes as soon as possible, and calls on the international community to sign a new pact on greenhouse emissions by next year rather than in 2010/11. At the very least the UK government is taking the report seriously; both major parties are proposing new green taxes. Stern points out, however, that any action will only be effective if truly global."

Comments

The American Way

[Salvance]

Ignoring problems is the new American Way. We're doing the same thing with budget deficits, social security, medicare, and solving the root cause of global terrorism. Since a politician's time in office is typcially short (2-8 years), it's always far less costly during their tenure (politically and economically) to push off problems than to tackle the issue and risk losing voter support.

Unfortunately, global warming is a problem who's impact is even less tangible to Americans than problems like future social security shortfalls. As such, I doubt the government will support action until we're in the midst of cataclysmic environmental impact at a nationwide level.