GARNAUT REVIEW SUMMARY

Professor Garnaut has been running at break-neck speed to release nine reports over a five month period - culminating in his final report to Parliament at the end of May, 2011.

For readers of this newsletter, perhaps the most interesting paper was his first - released in February, 2011 entitled:

“Weighing the costs and benefits of climate change action.”

In this paper he reviews his previous report published in 2008 and addresses a number of criticisms that were made to the previous paper. Please find below an excerpt of his summary:

The Update Paper finds that:
•    the Review’s choice of discount rate was sound and that the Australian case for climate change action is not affected by reasonable variations in the approach to choosing a discount rate;
•    the presence of uncertainty in the range of possible climate outcomes strengthens the case for climate change action;
•    the Review’s approach to the treatment of developing countries as part of a global response remains a robust and ethical basis for a long-term solution;
•    the case for substantial and well-designed Australian action to encourage international agreement on climate responses remains compelling; and
•    while the current and prospective realities of damage from climate change warrant effective efforts on adaptation, this does not weaken the case for strong focus on mitigation.

See here for the full report:
http://www.garnautreview.org.au/update-2011/update-papers/up1-key-points.html

Also see main website at:
http://www.garnautreview.org.au/