World leaders have finally accepted that it will be impossible to come to a deal on climate change this year and have moved their attention to setting new dealines for a global agreement.
We always knew that whatever did come out of it would be a right dog\’s breakfast.
However, the bad news is probably that some will believe their own hysteria and we\’ll end up with something even worse.
My personal opinion (for what little that might be worth) is that we need a rerun of something like the Stern Review. A cost benefit analysis in short. Stern told us that mitigation made more sense than adaptation up to a certain point. OK, we might not all agree with all of his assumptions but it was the right question to be asking: what are the trade offs.
We\’re now being told that the costs are much higher than Stern said: thus we need to revisit that mitigation/adaptation decision.