---

Climate Change Bill [Lords]

Professor Stern said that, if global warming goes ahead and causes all the damage that he anticipates, the world will be only four times as rich by the end of the century as it is now, not fives times, as it would be if we cured global warming. The hon. Gentleman should first take that on board. The Government's report moves on to benefits, and it is very terse, saying only:"““For indicative purposes only, it is possible to use the Shadow Price of Carbon to place an indicative money value on the emissions reductions that could occur under a 60 per cent. emission reduction target. The Shadow Price of Carbon captures the damage cost of climate change caused by each additional tonne of greenhouse gas emitted.””" They are using that figure to calculate benefits, without mentioning that virtually all those benefits will fall outside this country. I accept that we ought to be acting to help others. None the less, we ought to point out what we propose to do, who will bear the costs and who will get the benefits. A document that does not do that is not worthy of acceptance by the House.