Climate change ‘brings huge cost’

Breaking news: BBC:

Climate change could cut global growth by a fifth, up to $7 trillion in total, unless drastic action is taken, a key review warns.

But taking action now would cost just 1% of global gross domestic product, economist Sir Nicholas Stern, former chief economist at the World Bank, says.

Without action up to 200 million people could become refugees as their homes are hit by drought or flood, he added.

The Stern Review, published today, says the key to solving the crisis is getting the big polluting countries, such as the US and China, to cut their emissions.

Sir Nicholas says the polluters must be made to “pay the price” for the problems they are causing the planet.