Cost estimates vary greatly. 1 Recent research A total investment of $ 4 trillion to $ 60 trillion is required to keep warming twice, with a median of $ 16 trillion and $ 10 trillion to $ 100 trillion to keep it at 1.5 degrees. It costs $ 30 trillion in median. (For reference, the global economy as a whole in 2019 was about $ 88 trillion.) Other studies show that reaching net zero requires annual investment in the following ranges: 1.5 percent Of the world’s gross domestic product 4 percent.. There are many, but Past energy investment In a country like the United States
Now consider the cost of unchecked climate change, which has the greatest impact on the most vulnerable climate change. These include property and infrastructure damage due to rising sea levels and abnormal weather, deaths and illnesses associated with natural disasters, pollution and infectious diseases, reduced agricultural production and labor productivity due to rising temperatures, and availability of water. Includes reduced sex and increased energy costs. Species extinction and habitat destruction. Dr. Hsiang, an economist at the University of California, Berkeley, describes it as “death by julienne.”
As a result, it is difficult to quantify climate damage. Moody’s Analytics Even a warming of 2 degrees Celsius estimates that it will cost $ 69 trillion worldwide by 2100, and economists predict that the number of victims will continue to increase with temperature.of Recent research, Economists estimated that the cost would be equal to 5% of world GDP at 3 degrees Celsius warming (our trajectory under current policy) and 10% at 5 degrees Celsius.According to other studies, the world’s per capita GDP will increase as the current warming trend continues. 7 percent And by the end of this century 23 percent — the economic blow Pandemic of multiple coronaviruses Every year.And these are Significantly underestimated..
Studies have already suggested that climate change has reduced and reduced incomes in the poorest countries by as much as 30%. World agricultural productivity It has increased by 21 percent since 1961. Extreme weather also accumulated a large amount of charges. In the United States alone, climate-related disasters such as hurricanes, droughts, and wildfires will cost nearly $ 100 billion to businesses, assets, and infrastructure in 2020, compared to an average of $ 18 billion annually in the 1980s. It has occurred.
Given the soaring prices of omissions, many economists are not working on climate change. Better deal.. It’s like that old saying: 1 ounce of prevention is worth a pound of treatment. In this case, limiting warming can significantly reduce future damage and inequality caused by climate change.It also creates the following so-called co-benefits: Save 1 million lives every year Reducing air pollution and eating healthier, more climate-friendly diets will increase millions of people. Some studies have shown that it is possible to achieve the goals of the Paris Agreement. Create a job When Increase world GDP.. And, of course, by curbing climate change, we protect many of the species and ecosystems that humans depend on, and we believe that many have their own value.
The challenge is that emissions need to be reduced now to avoid damage later. This will require a large investment over the next few decades. And the longer the delay, the more money you will pay to reach your goals in Paris. 1 Recent analysis We found that reaching net zero by 2050 would almost double the cost of the United States if we waited until 2030 instead of acting now. But even if Paris’s goals are not met, the economy will be a strong basis for climate change as warming continues. It costs more — In dollars and in life.
Veronica Penny Report that contributed.
Illustrated by Esther Horvath, Max Whittaker, David Maurice Smith and Talia Herman of The New York Times. Esther Horvath / Alfred-Wegener-Institut