I don't usually post on the weekend but when something like this comes out, I cant help it.
The cost of curbing the soaring emissions of harmful gases that are blamed for causing global warming has been estimated at $1 trillion by a major study of the cost of climate change.
The report, byPricewaterhouseCoopers, lays bare the potential damage to the environment of the industrial revolution in China and India. It puts a price of $1 trillion (£526bn) on the cost of sorting out the problem spread over the next generation. The bill is equivalent to a year's output of the economy of Canada, and less than half of the total stock of debt that has been built up by Britain's households. But it is less than the cost in terms of environmental catastrophe and loss of life that scientists fear will happen as temperatures and sea levels rise. "It is implicit from our findings that a trillion dollars certainly is a cost worth incurring," said John Hawksworth, the chief economist at PwC and author of the report.
More next week once I have a chance to read up on it.