Garnaut Climate Change Review update papers: Update Paper 1

Update Paper 1: Weighing the costs and benefits of climate change action

This update paper finds that - the Review’s choice of discount rate was sound and that the Australian case for climate change action is not affected by reasonable variations in the approach to choosing a discount rate; - the presence of uncertainty in the range of possible climate outcomes strengthens the case for climate change action; - the Review’s approach to the treatment of developing countries as part of a global response remains a robust and ethical basis for a long-term solution; - the case for substantial and well-designed Australian action to encourage international agreement on climate responses remains compelling; and - while the current and prospective realities of damage from climate change warrant effective efforts on adaptation, this does not weaken the case for strong focus on mitigation.

Read more at Garnaut Climate Change Review