Friday, 18 April 2008

Stern gets Sterner

At the same time as various meetings and announcements were going on in the US and Paris, Nicholas Stern, who produced an influential report into the economics of climate change for the UK government, said in a speech that, if anything, his 2006 report was wrong - it under-estimated the problem.

Stern's view is that governments and business need to invest the equivalent of 1-2% of global GDP annually to 2050 in new technologies and efficiency measures or face climate change of catastrophic proportions.

It's hard to see if and when this will happen, but, by way of example, if we take the 1% figure and assume that IT will be a direct contributor to half of that, then that would mean around $65bn annual IT expenditure in the US, over 10% of current total IT spend (according to PAC figures). That's a huge amount of potential business and the later it is invested the higher the figure will be.

© The Green IT Review

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