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Title: GLOBAL ECONOMIC INCENTIVES FOR ENVIRONMENTAL SECURITY - REVISITING THE STERN REVIEW IN 2019
Authors: Harsh Beri
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Harsh Beri Modern School, Barakhamba Road (Grade 12)
MLA 8 Beri, Harsh. "GLOBAL ECONOMIC INCENTIVES FOR ENVIRONMENTAL SECURITY - REVISITING THE STERN REVIEW IN 2019." Int. j. of Social Science and Economic Research, vol. 4, no. 9, Sept. 2019, pp. 6256-6262, ijsser.org/more2019.php?id=479. Accessed Sept. 2019. APA Beri, H. (2019, September). GLOBAL ECONOMIC INCENTIVES FOR ENVIRONMENTAL SECURITY - REVISITING THE STERN REVIEW IN 2019. Int. j. of Social Science and Economic Research, 4(9), 6256-6262. Retrieved from ijsser.org/more2019.php?id=479 Chicago Beri, Harsh. "GLOBAL ECONOMIC INCENTIVES FOR ENVIRONMENTAL SECURITY - REVISITING THE STERN REVIEW IN 2019." Int. j. of Social Science and Economic Research 4, no. 9 (September 2019), 6256-6262. Accessed September, 2019. ijsser.org/more2019.php?id=479.
References [1]. Nicholas Stern, The Economics of Climate Change: The Stern Review, Cambridge University Press, 2007 [2]. Nicholas Stern, What is the Economics of Climate Change? WORLD ECONOMICS . Vol. 7 . No. 2 . April-June 2006 [3]. Joyeeta Gupta, International Law and Climate Change: The Challenges Facing Developing Countries, Yearbook of International Environmental Law, Volume 16, Issue 1, 2005, Pages 119-153 [4]. The Carbon Majors Database, CDP Carbon Majors Report 2017, Climate Accountability Institute. [5]. Burkard Eberlein and Dirk Matten, Business Responses to Climate Change Regulation in Canada and Germany: Lessons for MNCs from Emerging Economies, Journal of Business Ethics (2009) 86: 241-255 [6]. Alina Averchenkova, Florence Crick, Adriana Kocornik-Mina, Hayley Leck and Swenja Surminski, Multinational corporations and climate adaptation - Are we asking the right questions? A review of current knowledge and a new research perspective, March 2015 [7]. Centre for Climate Change Economics and Policy Working Paper No. 208 Grantham Research Institute on Climate Change and the Environment Working Paper No. 183 [8]. Simon Dietz, Chris Hope, Nicholas Stern & Dimitri Zenghelis, REFLECTIONS ON THE STERN REVIEW (1) A Robust Case for Strong Action to Reduce the Risks of Climate Change, WORLD ECONOMICS . Vol. 8 . No. 1 . January-March 2007 1 [9]. Dasgupta, P. Human Well-Being and the Natural Environment; Oxford University Press: Oxford, U.K. and New York, 2001 [10]. U.S. Environmental Protection Agency. Report on the Environment; EPA 600/R-07/045F; National Center for Environmental Assessment: Washington, DC, 2008; Chapter 6, Ecological Condition.
Abstract: The Carbon Majors report highlights that a fifth of global industrial greenhouse gas emissions are backed by public investment and this puts a significant responsibility on "those investors to engage with carbon majors and urge them to disclose climate risk." There is an urge to move out of fossil fuel and towards clean energy at an accelerated pace in order to avoid/minimise the impending climate catastrophe. In light of these concerns, it is imperative to revisit the Stern Review, a canonical piece of literature on "The Economics of Climate Change". The Stern Review introduces environmental degradation as an economic externality, where its consequences are felt by all even if only few contribute to it. The economics of climate change has been focused on "modelling the implications of growth for emissions, examining and modelling the economics of technological options, calculating 'social costs of carbon', and exploring tax, market and other structures". With collective action as the core, it is now necessary to focus on the analysis that individual countries will require to assess/review their own policy positions along with a framework to generate impactful international action.

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