The Stern Review has been one of the most influential economic reports on climate change. It is an independent review commissioned by the chancellor of the exchequer of the UK to assess climate change and its economics.
The report acknowledges the urgency required to control climate change. According to the report, the loss due to climate change is about 5% of GDP each year. He recommends carbon taxes, about 1% of the GDP, as the way to finance mitigation strategies.
