Global Warming Can Shrink Global Economy By 20%

In a report by UK economist Sir Nicholas Stern, he states that if action is not taken on an international level, the negative affects of global warming has the potential to hurt the global economy by 20%. Since ignorance still abounds, the article also makes the point that Tony Blair stated that he felt Stern's analysis showed that the scientific evidence showing global warming exists is "overwhelming" and that the potential consequences are "disastrous".

Stern also feels that 1% of global gross domestic product must be spent to tackle this problem.

Since the links posted often do not last long, I feel it is worth taking the following powerful statements from Blair directly from the article and copying them here:
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Mr Blair said the consequences for the planet of inaction were "literally disastrous".

"This disaster is not set to happen in some science fiction future many years ahead, but in our lifetime," he said.

"Investment now will pay us back many times in the future, not just environmentally but economically as well."

"For every £1 invested now we can save £5, or possibly more, by acting now.

"We can't wait the five years it took to negotiate Kyoto - we simply don't have the time. We accept we have to go further (than Kyoto)."
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Hmmm. Going further than Kyoto. Interesting reading from a country whose leaders feel Kyoto goes much too far. Of course, short term vision or a lack of vision can make people side only with short-term business consequences. But that's a discussion for another day.

The Stern Review also warns that if no action is taken to combat global warming, the following conequences may occur:

• Floods from rising sea levels could displace up to 100 million people
  
  
• Melting glaciers could cause water shortages for 1 in 6 of the world's population
  
  
• Wildlife will be harmed; at worst up to 40% of species could become extinct
  
  
• Droughts may create tens or even hundreds of millions of "climate refugees"