# Nicholas Stern Back to [[Authors/@BjornLomborg/People/People|Lomborg People]] · [[Authors/@BjornLomborg/BjornLomborg-x-profile|@BjornLomborg]] · Topic: [[Topics/Climate Change Science and Policy Debate/Climate Change Science and Policy Debate|Climate Change Science and Policy Debate]] **Role:** Economist (Lord Stern of Brentford); former World Bank chief economist; author of the 2006 *Stern Review on the Economics of Climate Change*; chair of the Grantham Research Institute at LSE ⚠️ (current title not re-checked) - Led the *Stern Review* for the UK Treasury, published Oct 30, 2006, when he was an adviser to Chancellor Gordon Brown (Guardian, Oct 28, 2026). Its main conclusions, as Fiona Harvey summarises them: the costs of inaction exceed the costs of action; climate change is a market failure; and growth is compatible with cutting emissions. - Its low discount rate was the central dispute with William Nordhaus and other economists, and with Lomborg (*Cool It*, ch. 4 [[Authors/@BjornLomborg/Books/Cool It|book note]]). - Review executive summary on extreme weather (verbatim): "Based on simple extrapolations, costs of extreme weather alone could reach 0.5 - 1% of world GDP per annum by the middle of the century, and will keep rising if the world continues to warm." This is the claim checked in [[Authors/@BjornLomborg/Post Analyses/Post Analysis - BjornLomborg on Nicholas Stern and Extreme-Weather Losses (2026-10-30)|Nicholas Stern and Extreme-Weather Losses]]. - In 2026 Stern told the Guardian that if he redid the review he would put more weight on nature and biodiversity loss.