Abstract
The Stern Review was commissioned by the Treasury in July 2005 to examine the economics of climate change. It warns of the global economic consequences of failing to act on climate change and urges global action on both mitigation and adaptation. To be at least 60% decarbonized by 2050, the power sector needs to adopt such strategies as carbon pricing through taxation, emissions trading and/or regulation, international cooperation in boosting low carbon technology, research and development, price signals and markets for carbon, and action to remove barriers to energy efficiency, and to inform, educate and persuade individuals about what they can do to respond to climate change.
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