Lord Stern: We underestimated the climate threat in the 2006 Stern Review.

Guardian: “Stern said this week that new scientific findings showed greenhouse gas emissions were causing more damage than was understood in 2006, when he prepared his study for the government.” “He pointed to last year’s reports from the Intergovernmental Panel on Climate Change (IPCC) and new research which shows that the planet’s oceans and forests are soaking up less carbon dioxide than expected. He said: “Emissions are growing much faster than we’d thought, the absorptive capacity of the planet is less than we’d thought, the risks of greenhouse gases are potentially bigger than more cautious estimates and the speed of climate change seems to be faster.” Stern said the new findings vindicated his report, which has been criticised by climate sceptics and some economists as exaggerating the possible damage. “People who said I was scaremongering were profoundly wrong,” he told a conference in London.”
JL: A 2006 economics study based on a 2001 science study when the fourth IPCC science report was due in 2007. Not sensible.