Lord Nicholas Stern: 'I got it wrong on climate change – it's far, far worse'

Author of 2006 review speaks out on danger to economies as planet absorbs less carbon and is 'on track' for 4C rise 

The Stern review, published in 2006, pointed to a 75% chance that global temperatures would rise by between two and three degrees above the long-term average; he now believes we are "on track for something like four ". Had he known the way the situation would evolve, he says, "I think I would have been a bit more blunt. I would have been much more strong about the risks of a four- or five-degree rise."

He said some countries, including China, had now started to grasp the seriousness of the risks, but governments should now act forcefully to shift their economies towards less energy-intensive, more environmentally sustainable technologies.

"This is potentially so dangerous that we have to act strongly. Do we want to play Russian roulette with two bullets or one? These risks for many people are existential."

Stern said he backed the UK's Climate Change Act, which commits the government to ambitious carbon reduction targets. But he called for increased investment in greening the economy, saying: "It's a very exciting growth story."

David Cameron made much of his environmental credentials before the 2010 election, travelling to the Arctic to highlight his commitment to tackling global warming. But the coalition's commitment to green policies has recently been questioned, amid scepticism among Tory backbenchers about the benefits of wind power, and the chancellor's enthusiasm for exploiting Britain's shale gas reserves.

Stern's comments came as Jim Yong Kim, the new president of the World Bank, also at Davos, gave a grave warning about the risk of conflicts over natural resources should the forecast of a four-degree global increase above the historical average prove accurate.

"There will be water and food fights everywhere," Kim said as he pledged to make tackling climate change a priority of his five-year term.


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