The aim of the UK climate bill is not to spark their economy (and it would be too early to tell how it has, anyway, because it only took effect last year), but rather to prevent the costs incurred by emitting as much greenhouse gas as it currently does. Historical evidence suggests that the UK’s efforts to address climate change have gone hand in hand with economic growth. Between 1990 and 2005, the UK economy grew by over 30% while greenhouse gas emissions fell by over 12%. The landmark Stern Review of the economic impacts of climate change found that under conservative assumptions, the overall costs and risks of doing nothing will be equivalent to losing 5% of global GDP each year, while the costs of action could be limited to 1% of global GDP each year.
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