Stern also set out an action plan for the world's politicians who meet at a climate summit in Bali next week.

The Stern Review was too conservative about factoring in a number of scientific hypotheses, which growing evidence now suggests are serious factors in speeding global warming, Stern was reported as saying.

"The evidence on the seriousness of the risks from inaction or delayed action is now overwhelming. We risk damages on a scale larger than the two world wars of the last century," he said.

"If I was doing it again I'd portray the risks as bigger."

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By Tony Webster