The Stern Review

Paper commissioned by the government of the United Kingdom on the effects on the global economy of climate change in the next 50 years. It was coordinated by World Bank economist, Sir Nicholas Stern, and published on October 30, 2006. One of the main conclusions of the report is that the spending to stabilize the emission of greenhouse gases into the atmosphere would be equivalent to 1% of the world’s GDP by 2050.

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Certified emission reduction (CER)

Negotiable credit in the international carbon market originated from clean development mechanism (CDM) projects.

SBSTA

Subsidiary Body for Scientific and Technological Advice – a technical body of the Climate Change Convention.

IPCC

IPCC means Intergovernmental Panel on Climate Change. Established in 1988 by the United Nations Environment Program (UNEP) and the World Meteorological Organization (WMO), the Intergovernmental Panel on Climate Change (IPCC) issue, every five years, the results of...