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New Course
Concept
Stern Model
The
Stern model
refers to an
economic framework
that evaluates the
costs and benefits
of taking action to
mitigate climate change
, emphasizing the importance of immediate and
substantial investment
to prevent future economic and environmental damage. It highlights the concept of discounting future
costs and benefits
, suggesting a
lower discount rate
to give more weight to the
well-being of future generations
.
Relevant Fields:
Environmental Protection 100%
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