Moves to cut carbon dioxide emissions enough to slow or prevent global warming could cost as much as 1% of the world’s gross domestic product. This seems like a lot, until you read the balancing figures- not addressing the problem will likely see the global economy shrink by 20%. Developed countries would have to shoulder most of the costs whilst it would be developing ones, initially, that felt the benefits, so don’t hold your breath waiting for the US et al to agree.
There is some evidence that our government may be getting its finger out and moving from talking about the problem to doing something about it. Green taxes are getting a lot of attention in the run up to next month’s public spending review.
Technorati tag: Global Warming