The second IPCC installment showed that the temperature rise that we are expected to see sometime around 2055-2080 will create a net cost of 0.2-2% of GDP – the equivalent of less than one year of recession…
Again, not surprisingly, politicians tried to have this finding deleted. British officials found the peer-reviewed estimate “completely meaningless,” and, along with Belgium, Norway, Japan, and the US, wanted it rewritten or stricken. One academic speculated that governments possibly felt “a little embarrassed” that their previous exaggerated claims would be undercut by the UN.
The third installment of the IPCC report showed that strong climate policies would be more expensive than claimed as well – costing upwards of 4% of GDP in 2030, 6% in 2050, and 11% by 2100.
And the real cost will likely be much higher, because these numbers assume smart policies, instantly enacted, with key technologies magically available.
Bjørn Lomborg says that the UN climate panel’s latest report tells a story that politicians prefer to ignore
09 Nov 2014 Leave a comment
in climate change, energy economics, environmental economics, global warming Tags: Bjørn Lomborg, climate alarmism, global warming, green rent seeking, IPCC
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