The Stern ReportW discusses the Social Cost of Carbon.

The Australian economy[edit | edit source]

A report by the Australian government scientific body, the CSIRO,W estimates the cost of serious action at between [1] The cost of inaction on the Australian economy is estimated to be much greater, for example due to increased droughts,[2] and widespread destruction of the Barrier Reef.[3]

Notes[edit | edit source]

  1. Broken link - can't find a live link. Replace with other reputable sources. "climate+change"+cost+report Many here but which are reliable?
  2. For comparison, consider the effect of the 2006-07 drought: "the drought is estimated to reduce economic growth in Australia in 2006-07 by around 0.7 percentage points from what would otherwise have been achieved." and the previous drought had a similar impact - drought update - Australian Crop and Livestock Report, 27 October 2006, by the Australian Bureau of Agricultural and Resource EconomicsW (ABARE).
  3. Reef 'facing extinction', Liz Minchin, The Age,W January 30, 2007: "Tourism accounts for 4.2 per cent of Australia's economy, with the Barrier Reef alone worth about $5.8 billion a year in associated tourist dollars and sustaining the equivalent of 63,000 full-time jobs." $5.8 billion a year equates to approximately 0.9% of the Australian economy.
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