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Stern words while in the EU they're trading hot air

The Stern Review on climate change has been widely applauded for marrying economics to science and thus speaking a language that politicians and the business community can understand.

On the back of the Stern Review, Gordon Brown has called for a long-term framework for the development of a worldwide carbon market, leading to ‘a low-carbon global economy’.

John Kay, a financial journalist, wrote in the Financial Times that, ‘when a market is created through …

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