Abstract from Professor David Henderson's Guest Lecture presented at the Treasury on 20 February 2007.
Professor David Henderson
Westminster Business School, London
David Henderson is a former Head of the Economics and Statistics Department of the OECD, and is currently Visiting Professor at the Westminster Business School in London. In New Zealand he has worked at, and published with the Business Roundtable.
In July 2005 the British Chancellor of the Exchequer, Gordon Brown, commissioned the Economic Adviser to HM Government, Sir Nicholas Stern, to prepare a report on the economics of climate change. The resulting Stern Review, some 700 pages long, appeared at the end of October 2006.
The Review argues that "The scientific evidence is now overwhelming: climate change is a serious global threat, and it demands an urgent global response... prompt and strong action is clearly warranted."
The Review has been hailed across the world as an authoritative treatment of its subject and as providing a firm basis for world-wide action to limit and reduce 'greenhouse gas' emissions. However, a dissenting view has been voiced by the authors of a dual critique of the Review, covering scientific as well as economic aspects, which has just been published in the journal World Economics. David Henderson is one of these authors. Today he presents a personal assessment of the Stern Review, drawing on but going beyond the dual critique.