The economics of tackling climate change

doi:10.1136/bmj.39468.596262.80

BMJ 2008;336:165-166 (26 January), doi:10.1136/bmj.39468.596262.80

Editorials

The economics of tackling climate change

Don’t leave health benefits out of the equation

The first 150 words of the full text of this article appear below.

Tony Blair welcomed the publication of the Stern review on theeconomics of climate change calling it a wake up call to theworld.¹ Its message was clear. The costs of taking action tostabilise the climate will be high but much less than the costsof inaction. Delay would be dangerous. Action is needed now.The review also exposed the economic cause of climate change.Climate change is market failure on the greatest scale the worldhas ever seen.¹

Markets fail to provide the right quantity of goods and serviceswhen important costs are left out of our private economic decisionmaking. In general, the extent to which people engage in activitiesthat result in the emission of greenhouse gases depends on thecost of those activities. For example, when deciding whetherto travel by car we might consider the cost of the time, petrol,parking, and wear and . . . [Full text of this article]

Ian Roberts, professor of epidemiology and public health

¹ London School of Hygiene and Tropical Medicine, London, UK

Ian.Roberts@lshtm.ac.uk

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