Rt Hon Lord Lilley

    Written Parliamentary Question (WPQ)
    479 c1004W
    Lilley, Peter
    Carbon Emissions
    To ask the Secretary of State for Environment, Food and Rural Affairs further to the answer of 10 July 2008, Official Report, columns 1775-6W, on carbon emissions, what the implications of the Stern Review are for the tools that are used in Government to perform cost-benefit analysis, with particular reference to the appropriate discount rate to use.
    Dept for Environment, Food and Rural Affairs
    Woolas, Phil
    [holding answer 17 July 2008]: The Stern Review analysed, from a global perspective, the question of whether or not to take global action to avoid dangerous climate change. The methodological approach adopted by the Stern Review in answering this question has implications for the appropriate discount rate to use in cost-benefit analysis under certain specific circumstances, and more generally for the appropriate approach to use to value greenhouse gas emissions in cost-benefit analysis.
    House of Commons (HoC)
    Commons Chamber