IMF Warns Australia On Climate - Change "A Matter Of Fact, Not Faith"

[hatrack]

CLIMATE change could have a devastating effect on the Australian economy, if the projections of the Stern report on global warming were true, the head of the International Monetary Fund (IMF) warned today.

IMF managing director Rodrigo de Rato said the report on the economic impact of climate change, by former World Bank chief economist Nicholas Stern released in the UK recently, was alarming. "The link between greenhouse gas emissions and changes in global temperature is now well-established," Mr de Rato said as a two-day meeting of finance ministers and central bankers from the world's 20 largest economies (G20) got underway in Melbourne today. "It is a matter of fact rather than of faith.

"The consequences of global warming are less certain, but they are expected to be serious." The Stern report said climate change could cut gross domestic product growth by five to 20 per cent in many countries.

"If these numbers are borne out even broadly by further analysts, they are alarming indeed," Mr de Rato said.

EDIT

http://www.news.com.au/sundaytelegraph/story/0,,20780937-5001028,00.html

[kestrel91316]

1. Climate change to cut GDP growth?? Well imagine that.