The Climate Group holds economics briefing with Sir Nicholas Stern in California

2 April 2007

Last week The Climate Group hosted a briefing on the economics of climate change featuring Sir Nicholas Stern - Head of UK Government Economics Service and former Chief Economist of The World Bank - followed by a discussion with a select group of prominent business leaders and members of the McKinsey Global Institute.

The event was the first opportunity for US business leaders to engage in a private briefing with Sir Nicholas, author of the Stern Review.

The far-reaching and candid discussion, "Climate Change: The Bottom Line," explored recent findings on the economic impacts of both action and inaction to address climate change and the ways corporations are discovering economic opportunities as they reduce greenhouse gas emissions.

"Global warming is rising to the top of corporate boardroom discussions due to its effect on our global economy," said Nancy Skinner, U.S. Director of The Climate Group. "Our research shows that there is an ever growing cohort of companies that have managed to reduce their carbon footprints in a way that is consistent with strengthened operational performance and economic productivity. We hosted this business panel discussion to draw attention to this trend."

Participants in the business leader discussion included Sir Nicholas Stern, former Chief Economist of The World Bank; Lenny Mendonca, Chairman of the McKinsey Global Institute; Diana Farrell, Director of the McKinsey Global Institute; Martin Uden, Consul General of British Consulate-General San Francisco; Tom King, CEO of PG&E; Joe Pettus, Sr VP of Safeway; Jim Wunderman, CEO of the Bay Area Council; and Nancy Skinner, U.S. Director of The Climate Group and others.

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