Stern report

The report The Stern Review on the Economics of Climate Change (2006), written by the prominent economist Nicholas Stern for the UK government, in which he argued that the cost of early action on global warming would be much less than the costs later on. He described global warming as ‘the greatest market failure the world has ever seen’.

This definition is abridged from A – Z of tree terms: A companion to British arboriculture.
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