But why doesn’t he just read the Stern Review?

At a theoretical level (which is where I will be starting my own input, which will continue for four years) the focus is on the need to reverse the normal idea that a cost deferred is a cost saved because of the use of fair value discounting within International Financial Reporting Standards. We suggest that the exact opposite is true in the case of climate accounting. What is required is upfront accounting by provisioning for costs, and because the costs of tackling climate change increase if not tackled early we are looking at accounting without discounting, because the costs of transition need to be incurred as soon as possible.

All of this is addressed – and disagreed with – in hundreds of pages of the Stern Review. Why go over it again in order to get it wrong?

Or, umm, hand on, is the P³ actually going to talk about discounting and climate change without having bothered to read Stern?

This even before we get to the idea that technological change is makes it cheaper to do things in the future. Sometimes at least. Is solar cheaper now than a decade back? So, the costs of installing solar now are less than they were….

12 thoughts on “But why doesn’t he just read the Stern Review?”

  1. But why doesn’t he just read the Stern Review educate himself and realise that man made global warming is a load of cobblers?

  2. Tim

    That’s far too much hard work and would imply that he has an interest in practical solutions to seemingly intractable problems. He doesn’t – he is a polemicist who does not understand anything but merely seeks to foment unrest and personally profit by doing so.

  3. Addolff is right, if he is to go back to the beginning he might ask why the entire economy of the planet is being turned upside down for a hypothesis which has not been shown in the real world or in the laboratory but only by computer modelling. Stern’s first premise is that there is a real threat. That premise is false, so the same applies to any and all findings from it.

  4. “technological change is makes it cheaper to do things in the future. Sometimes at least. Is solar cheaper now than a decade back? So, the costs of installing solar now are less than they were….”

    Here’s a thing. Isn’t it a strange coincidence that at the point in time that large scale renewable energy generation became technically possible along came global warming as an incentive to adopt it. And that is the sequence. Photodiodes were first developed in the 50’s? I know I was playing around with circuits would produce a voltage from light in the early 70s. You could use germanium transistors if you stripped the black paint off the transparent encapsulation. Rare earth magnets are how old? Carbon fibre composites for windmill blades is at least 70s.
    It’s almost as if some reason was needed to accelerate the development of these industries. It’s not as if they wouldn’t have matured anyway. There were applications for them then & the applications would have increased as the technology improved. Price competitive natural energy capture would have in due course come along. Although maybe not until…any guesses? I’d say 2020s for first large scale roll-outs.
    A suspicious mind might conclude we’ve been had, here.

  5. When did the scientific consensus switch from global cooling – Beware the New Ice Age! – to global warming – The Planet’s Going To Fry! Mid 70s?

  6. BiS, the Connolleys of this world have been busy hiding the evidence that the consensus in the 70s was global cooling. I imagine the BBC have long since lost the tapes of the programmes that discussed it. Maybe the Graun archives still preserve what the “global coolists” were saying. I don’t know, I had no thought of opening its pages back then and no intention of dredging around in their archive of trendy insanity

  7. “ I will be starting my own input, which will continue for four years”

    Wasn’t there some quote about how difficult it is to make people see the truth when their livelihood depends on ignoring it

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