The Stern Report: It’s all about the Stern Report today. You can go and read the full report here, and The Guardian has a comprehensive summary here. Key points include:

All countries will be affected, but the poorest will suffer earliest and the most.

Temperatures could rise by 5C if climate change is unchecked – a 2C rise could leave 15-40% species facing extinction.

Three areas are necessary for effective response: carbon pricing, technology policy and energy efficiency.

Stern figures don’t add up for poor people: While Christian Aid has broadly welcomed the Stern Report’s recommendations, the agency also points out that they leave much of the developing world at much greater risk of disaster and misery. Christian Aid

It’s business as usual in Washington: The White House acknowledged the Stern Report with the following statement “The U.S. government has produced an abundance of economic analysis on the issue of climate change. The Stern Report is another contribution to that effort.” A spokesperson said the US is still well on track to meet their 2012 targets. Washington Post

Australia under pressure: The Australian government is being pressured to join an international carbon trading scheme after the Stern Report predicted climate change will bring widespread economic turmoil. Chancellor Gordon Brown has called for Australia, the US and Japan to join the EU in a global trading scheme. The Age

Get more Crikey, for less

It’s more than a newsletter. It’s where readers expect more – fearless journalism from a truly independent perspective. We don’t pander to anyone’s party biases. We question everything, explore the uncomfortable and dig deeper.

Join us this week for 50% off a year of Crikey.

Peter Fray
Peter Fray
Editor-in-chief of Crikey
50% off