{"id":378963,"date":"2025-05-20T10:11:06","date_gmt":"2025-05-20T08:11:06","guid":{"rendered":"https:\/\/climatescience.press\/?p=378963"},"modified":"2025-05-20T10:11:08","modified_gmt":"2025-05-20T08:11:08","slug":"claim-proving-climate-change-is-damaging-the-economy-is-a-challenge","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=378963","title":{"rendered":"Claim: Proving Climate Change is Damaging the Economy is a Challenge"},"content":{"rendered":"\n
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From Watts Up With That?<\/a><\/p>\n\n\n\n

Essay by<\/strong> Eric Worrall<\/a><\/p>\n\n\n\n

Perhaps because there is no damage?<\/p>\n\n\n\n

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Climate Change Is Affecting the Economy. But Proving So Is a Challenge.<\/strong><\/p>\n\n\n\n

Several studies have attempted to model the effects of climate change on the economy, with varying results. But one fact remains certain: The costs of climate change will hit emerging markets and developing countries the hardest.<\/p>\n\n\n\n

Article by Alice C. Hill<\/a> and Priyanka Mahat<\/a>
May 13, 2025 3:01 pm (EST)<\/p>\n\n\n\n

Alice Hill is the David M. Rubenstein senior fellow for energy and the environment at the Council on Foreign Relations. Priyanka Mahat is<\/em> a research associate for climate change policy.<\/em><\/p>\n<\/blockquote>\n\n\n\n

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Estimating the economic damage from worsening weather extremes is wickedly hard. By comparison, assessing the price of cutting the pollution that causes climate change is \u201csimple stuff<\/a>\u201d [PDF], according to William Nordhaus, who won the 2018 Nobel Prize in Economics for his climate modeling. The challenge of modelling climate loss has not kept economists from trying. Their current efforts, however, almost certainly underestimate the costs, even as emerging studies show the price is increasing. With atmospheric carbon likely at its highest level in three million years, it is important to understand the significant limitations of current damage estimates.<\/p>\n\n\n\n

\u2026<\/p>\n\n\n\n

One thing that models do agree upon is that the costs of climate change will hit emerging markets and developing countries the hardest.<\/strong> In fact, while earlier models simply relied on global averages\u2014largely based on developed country data\u2014to estimate damages, recent studies have used spatially disaggregated regional and developing country data that reveal disproportionately larger losses in poorer countries. Those nations are often in areas already hard hit by climate-worsened extremes, and they lack the economic means to invest in adaptation to lessen the damage.<\/p>\n\n\n\n

Current economic models can inform understanding of climate change.<\/strong> The likely failure of those models to appreciate the magnitude of future loss, however, raises the specter of a too narrow focus on the cost of stopping the harmful pollution without properly valuing the catastrophic losses that could lie ahead.<\/p>\n\n\n\n

\u2026Read more:\u00a0<\/p>\n\n\n\n

https:\/\/www.cfr.org\/article\/climate-change-affecting-economy-proving-so-challenge<\/a><\/p>\n<\/blockquote>\n\n\n\n

Interesting, given the uncertainty, that none of the models suggest climate change will yield a net benefit, given serious studies suggest there will be tangible benefits.<\/p>\n\n\n\n

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New Study: 2001-2020 \u2018Global Greening Is An Indisputable Fact\u2019 And It\u2019s Driven By CO2 Fertilization<\/a><\/blockquote>