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- Report n° 7: The Stern review
Report n° 7: The Stern review
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Table of contents
- Climate change, from risks to opportunities
Climate change, from risks to opportunities
In spite of the reservations it has inspired, the Stern review is symptomatic of a context in which climate change can no longer be denied as a major issue on the international agenda (even the Bush Administration has conceded the point), if only because of its implications in terms of global security, and, by symmetry, because of the impact of climate policies on energy markets (dropping oil and gas rents caused by the emergence of a carbon price).
This context also creates a whole set of opportunities, both in developed and developing countries, the challenge being to transform economies so as to cut greenhouse gas emissions while making them less vulnerable to changing and at times extreme environmental constraints.
However, some of these opportunities will only arise in the framework of international measures dedicated to climate change adaptation, such as the Adaptation Fund adopted in Bali in December 2007, and of credible and predictable post-Kyoto schemes.