Wakeham sees upside from warming

Siberia will become a “rather nice place to live” and Europe will benefit “on balance” from global warming, says ex-Enron director Lord Wakeham.

They also urge a “thorough review” of the climate change levy and a move to replace it with a carbon tax.

“The important thing is to wean the international negotiators away from excessive reliance on the targets and penalties approach embodied in Kyoto,” the Economic Affairs Committee report says.

The peers, including ex-Tory chancellors Lord Lamont and Lord Lawson and ex-Labour minister Lord Macdonald, also argue that they are not convinced the public is sufficiently aware of the economics of climate change and that “action to tackle it will also have to be serious and potentially life-changing”.

BBC