Nicholas Stern

Date of Birth: April 22, 1946

Zodiac Sign: Taurus

Biography

Nicholas Herbert Stern, Baron Stern of Brentford, is a prominent British economist and academic known for his extensive work in the field of economics, particularly in the areas of public policy, climate change, and development economics. Born on April 22, 1946, in Hammersmith, London, Stern has had a distinguished career that spans several decades, during which he has held various significant positions in academia, government, and international organizations. Stern studied mathematics at Peterhouse, Cambridge, and subsequently earned his Doctor of Philosophy (PhD) in Economics at Nuffield College, Oxford. His academic career began at the University of Oxford, and he later held professorships at the London School of Economics (LSE) and the University of Warwick. In the public sector, Stern served as Chief Economist and Senior Vice-President of the World Bank from 2000 to 2003. He is perhaps best known for the “Stern Review on the Economics of Climate Change,” a comprehensive report commissioned by the UK Government in 2005, which has had a profound impact on global climate policy. The report highlighted the economic risks of climate change and the costs of inaction, advocating for immediate and substantial measures to mitigate its effects. In recognition of his contributions to economics and public policy, Stern was knighted in 2004 and made a life peer in 2007 as Baron Stern of Brentford. He continues to be an influential voice in the discourse on sustainable development and climate change.

5 Interesting Facts about Nicholas Stern

1. Nicholas Stern was knighted in 2004 for his services to economics.

2. He served as the Chief Economist and Senior Vice-President of the World Bank from 2000 to 2003.

3. The Stern Review on the Economics of Climate Change, published in 2006, is one of the most influential reports on climate change economics.

4. Stern has been a professor at the London School of Economics (LSE) and currently holds the IG Patel Chair of Economics and Government.

5. In 2007, he was made a life peer as Baron Stern of Brentford, in the London Borough of Hounslow.

5 Most Interesting Quotes from Nicholas Stern

1. “Climate change is the greatest market failure the world has ever seen.”

2. “The cost of inaction far outweighs the cost of taking action.”

3. “Economics is about understanding the consequences of our choices.”

4. “The science is unequivocal; the problem is urgent.”

5. “Investing in sustainable development is not a cost, but an opportunity.”

Highest Net Worth Achieved

As of the latest available data, Nicholas Stern’s highest net worth is estimated to be around $10 million, primarily accrued from his academic positions, publications, and consultancy roles.