The Global Commission on the Economy and Climate, headed by former Mexican President Felipe Calderon, will build on the 2006 report by British economist Nicholas Stern.
"I see it as one of the most meaningful things I can do, because there is no doubt that we have experienced great disappointments in our efforts to reduce global emissions of greenhouse gases," Stoltenberg told Norwegian state broadcaster NRK on Wednesday. "It is very serious that it is so difficult to achieve consensus on actions that could reduce emissions."
He denied that he was exchanging Norwegian domestic politics for an international career, as many have predicted he would do after stepping down as prime minister.
"I think it's an important part of being a politician in Norway to also contribute to the important issues of our time," he said.
The commission's members include: Paul Polman, the chief executive of Unilever; Ingrid Bonde, the finance director of Swedish power company Vattenfall; Zhu Levin, chief executive of Chinese investment bank CICC, and the former leaders of Chile, New Zealand and Mozambique.
It is sponsored by Britain, Colombia, Ethiopia, Indonesia, South Korea, Norway and Sweden.
“The alternative of not doing anything is not actually an alternative,” Stoltenberg said at an event launching the group in September. “The costs of not doing anything are much higher.”