The Productivity Commission failed to mention that this is a level effect, not an annual cost. It is the reduction in the global GDP between now and a certain date such as 2060 of between 0.2% to 2%. That is the loss of between a month and a year’s global GDP between now and 2100. If you want to know the annual cost, you divide that number 40. Even a cost of 2% of global GDP divided by 40 is a tiny number.
Jim Rose (@JimRose69872629) September 03, 2018