From the Washington Post:
Failing to curb the impact of climate change could damage the global economy on the scale of the Great Depression or the world wars by spawning environmental devastation that could cost 5 to 20 percent of the world's annual gross domestic product, according to a report issued yesterday by the British government.
The report by Nicholas Stern, who heads Britain's Government Economic Service and formerly served as the World Bank's chief economist, calls for a new round of international collaboration to cut greenhouse gas emissions linked to global warming.
Click here to read the full article.
Also check out a related article from the NY Times entitled, " Budgets Falling in Race to Fight Global Warming."