The just-released Stern Review on the Economics of Climate Change, which was commissioned by the British government, is based on worst-case climate scenarios. It also invokes optimistic economic studies to understate the cost of massive greenhouse gas emission reduction and thus make the case for massive governmental interventions. Stern’s favored policy prescriptions include the implementation of stringent worldwide carbon emission caps, and the establishment of an international carbon emissions trading system that will slow (or reverse) growth in the developed world, while shifting wealth to developing countries.
Stern’s risk estimates are based not on extrapolation of existing trends, but on computer models that are only as good as the assumptions fed in. In fact, Stern uses the Intergovernmental Panel on Climate Change (IPCC) climate projections which have been discredited by reputable economists for years. In addition, Stern’s cost estimates are at the lowest end of credible economic literature and fly in the face of experience, which shows country after country failing to achieve even modest reductions in greenhouse gas emissions, despite incurring large costs for reduction measures and sacrificing economic growth.
The following AEI scholars are available to comment on the just-released Stern study and on other environmental issues:
Kenneth P. Green
- Green’s Environmental Policy Outlook about global warming and emission reduction.
- Contact: KGreen@aei.org - 202/862-4883 - asst: 202/862-4876
Steven F. Hayward
- Hayward’s Environmental Policy Outlook on climate change.
- Contact: SHayward@aei.org - 202/862-5882 - asst: 202/862-4876
Joel Schwartz
- Schwartz’s article about California's greenhouse gas reduction targets.
- Contact: JSchwartz@aei.org - 916/203-6309
Samuel Thernstrom
- Thernstrom’s comments in a Guardian newspaper article about the Stern Review.
- Contact: SThernstrom@aei.org - 202/862-5870 - asst: 202/862-4872
For additional media inquiries please contact Véronique Rodman at vrodman@aei.org or 202/862-4871.
