For the complete report in the EUobserver.com click on this link
UK 'doomsday' report pushes EU on climate change- by Helena Spongenberg
BRUSSELS – The European Emissions Trading Scheme (ETS) should be expanded on a global scale, according to a landmark UK report on the costs of climate change that also calls on the world to act now or face dire consequences. "The EU emissions trading scheme is leading the way," said the report's author Sir Nicholas Stern at the launch of the 'Stern review on the economics of climate change' in London on Monday (30 October).
According to the report, business as usual will in the worst case scenario cost the world €5.5 trillion – or up to 20 percent of the global economy, it will make at least 200 million people "climate change refugees" and will make around 40 percent of the globe's animals extinct.The president of the European Commission, Jose Manuel Barroso, on Monday welcomed the report and said "the EU has and will continue to take a lead in the fight against climate change."
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