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UK climate report to put heat on Australia

BREAKING EARTH NEWS: CLIMATE CHANGE

Economical Analysis of Global Warming

October 30, 2006
BRITAIN will pressure Australia to join a carbon trading market after a new report warned global warming will cost more than either world wars or the Great Depression.
Leaked portions of the report from former World Bank chief economist Sir Nicholas Stern warn that global warming could cost trillions of dollars to address.
UK treasurer, Gordon Brown, who commissioned the report, will accept the report's primary recommendation, which calls for the establishment of a global market to trade carbon emissions.
As a result, Mr Brown will propose expanding the EU's carbon trading market to include California, Australia, Japan and elsewhere as the basis for such a global regime, The Times has reported.

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