The weight of scientific evidence shows that Australians are at risk of damaging climate change. The risks can be substantially reduced if strong and early action is taken by all major world economies. Without that action it is probable that Australians, over the 21st century and beyond, will experience disruption in their prosperity and enjoyment of life. In 2007 the governments of Australia’s federation and the Leader of the Opposition (on the eve of becoming Prime Minister) commissioned Professor Ross Garnaut to examine the impacts of climate change on the Australian economy and to recommend medium to long term policies and policy frameworks to improve the prospects of sustainable prosperity.

In The Garnaut Climate Change Review, Professor Garnaut warns that Australians must act now in order to reduce the potentially catastrophic effects of global climate change. According to Garnaut, there is just a chance that Australia and the world will manage to develop a position that strikes the balance between the costs of dangerous climate change and the costs of mitigation.

The Garnaut Climate Change Review is one of the most important reports to be published in Australia for many years. It examines the impacts of climate change on the Australian economy, the costs of adaptation and mitigation, and the international context in which climate change is experienced and negotiated. It is widely regarded as Australia’s equivalent of the Stern Review.