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The latest report from the Intergovernmental Panel on Climate Change’s (IPCC) Working Group II has concluded that global warming of 2.5˚C would cost the equival
by sien 10y ago
The latest report from the Intergovernmental Panel on Climate Change’s (IPCC) Working Group II has concluded that global warming of 2.5˚C would cost the equivalent to losing between 0.2-2.0% of annual income.
Again, the actual consensus on damage is lower than what people imagine and scenarios propagated in grey literature by Environmental organisations.
- stouset 10y agoThat cost is primarily borne by those in undeveloped regions, where 0.2-2.0% of average global annual income can easily equal >= 100% of local income. Further, from the report (emphasis theirs): > It is very likely that globally aggregated figures underestimate the damage costs because they cannot include many non-quantifiable impacts. It is virtually certain that aggregate estimates of costs mask significant differences in impacts across sectors, regions, countries and populations. It's extremely disingenuous to provide the 0.2-2.0% figure without the massive footnote that this is a stark underestimate.
- sien 10y agoAlso the benefit of electricity is greatest when brought to places with low levels of development.