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Global study wants to weigh financial costs, benefits of efforts to fight climate change

A new global initiative is seeking to present a more persuasive argument for action on climate change by focusing on the economic benefits of doing so.

The Global Commission on the Economy and Climate is launching a year-long study to analyze the economic benefits and costs of acting against climate change. The results of the study, which will be undertaken by research institutes on five continents, will be released in September 2014 — before a climate change conference that U.N. Secretary General Ban Ki-moon announced Tuesday.

"The world faces two great challenges: to fight poverty and to fight global warming," Norway's Prime Minister Jens Stoltenberg said at the launch of the initiative on the sidelines of the U.N. General Assembly. "We cannot choose between them."