U.K. Warns Of Worldwide Economic, Environmental 'Catastrophe'

<p>Britain calls for urgent action on climate change after the publication of an alarming report by World Bank's chief economist on the impact of global warming.</p>
October 30, 2006, 1pm PST | Abhijeet Chavan
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"The report by Sir Nicholas Stern, former World Bank chief economist and a senior UK civil servant, said establishing a carbon price, through tax, trading or regulation, was "an essential foundation" for tackling global warming..Tony Blair, UK prime minister, and Gordon Brown, chancellor, endorsed the report's central recommendation for the development of an international market in carbon trading to slash emissions of harmful greenhouse gases...In his 700-page review, Sir Nicholas also said policies were required to support a range of low carbon and energy efficient technologies."

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Published on Monday, October 30, 2006 in The Financial Times
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