SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
'Business-As-Usual' Climate Scenario Will Cost World Economy $12 Trillion: UN
UN report warns of the costs of unabated climate change after election of U.S. president who plans to allow just that
Nov 17, 2016
Unabated fossil fuel emissions will cost the global economy a staggering $12 trillion by 2050, according to a new report from the United Nations.
The report predicts a temperature rise of 2.5oC by 2050 if climate change continues on its current course, compared to the 1.5oC temperature rise that was the goal of the emissions reduction plans laid out in the Paris climate accord. The world's gross domestic product will fall by $33 trillion in the "business-as-usual" scenario, the report found, and by $21 trillion under the 1.5oC scenario--a difference of $12 trillion.
The report, Pursuing the 1.5oC Limit, was published by the United Nations Development Programme along with "a group of 43 developing countries which are highly vulnerable to climate change," the Independent wrote Wednesday.
Its predictions fly in the face of President-elect Donald Trump's assertions during the presidential campaign that combating climate change would cost billions. And the report's findings appear all the more dire given Trump's climate change denial and vow to pull the U.S. out of the Paris agreement.
In addition to the financial cost, the ecological difference between the 1.5oC and 2.5oC scenarios is significant, the report found.
The Independent summarized its findings:
[Limiting temperature rise to 1.5oC] would also "substantially" reduce the risk of the flooding of large parts of the world's lowest lying land, "with theGreenland ice sheet facing irreversible decline most likely around 1.6C of warming."
All the ice on Greenland would take some time to melt but would raise sea levels by seven meters once completely gone.
Keeping global warming to 1.5 per cent would mean at least 10 per cent of the coral reefs on the planet would survive; any higher and the "virtual disappearance" of this key marine ecosystem would begin.
When it comes to averting doomsday scenarios, the world is swiftly running out of time. A separate report released Wednesday from the International Energy Agency (IEA) found that the world must cut fossil fuel emissions to zero by 2040 to limit warming to 1.5oC. This follows other research that showed temperatures rising over 7degC by 2100, if emissions continue as normal.
"The unavoidable conclusion is that there is an urgent need for immediate radical reductions in energy sector CO2 (carbon dioxide) emissions if there is to be any chance of achieving the 1.5 degree Celsius goal," the IEA said, according to Reuters.
We are at a crossroads
This country and this world are at a monumental crossroads. US voters have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. If you share our vision, please contribute whatever you can to sustain our work. |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
Unabated fossil fuel emissions will cost the global economy a staggering $12 trillion by 2050, according to a new report from the United Nations.
The report predicts a temperature rise of 2.5oC by 2050 if climate change continues on its current course, compared to the 1.5oC temperature rise that was the goal of the emissions reduction plans laid out in the Paris climate accord. The world's gross domestic product will fall by $33 trillion in the "business-as-usual" scenario, the report found, and by $21 trillion under the 1.5oC scenario--a difference of $12 trillion.
The report, Pursuing the 1.5oC Limit, was published by the United Nations Development Programme along with "a group of 43 developing countries which are highly vulnerable to climate change," the Independent wrote Wednesday.
Its predictions fly in the face of President-elect Donald Trump's assertions during the presidential campaign that combating climate change would cost billions. And the report's findings appear all the more dire given Trump's climate change denial and vow to pull the U.S. out of the Paris agreement.
In addition to the financial cost, the ecological difference between the 1.5oC and 2.5oC scenarios is significant, the report found.
The Independent summarized its findings:
[Limiting temperature rise to 1.5oC] would also "substantially" reduce the risk of the flooding of large parts of the world's lowest lying land, "with theGreenland ice sheet facing irreversible decline most likely around 1.6C of warming."
All the ice on Greenland would take some time to melt but would raise sea levels by seven meters once completely gone.
Keeping global warming to 1.5 per cent would mean at least 10 per cent of the coral reefs on the planet would survive; any higher and the "virtual disappearance" of this key marine ecosystem would begin.
When it comes to averting doomsday scenarios, the world is swiftly running out of time. A separate report released Wednesday from the International Energy Agency (IEA) found that the world must cut fossil fuel emissions to zero by 2040 to limit warming to 1.5oC. This follows other research that showed temperatures rising over 7degC by 2100, if emissions continue as normal.
"The unavoidable conclusion is that there is an urgent need for immediate radical reductions in energy sector CO2 (carbon dioxide) emissions if there is to be any chance of achieving the 1.5 degree Celsius goal," the IEA said, according to Reuters.
Unabated fossil fuel emissions will cost the global economy a staggering $12 trillion by 2050, according to a new report from the United Nations.
The report predicts a temperature rise of 2.5oC by 2050 if climate change continues on its current course, compared to the 1.5oC temperature rise that was the goal of the emissions reduction plans laid out in the Paris climate accord. The world's gross domestic product will fall by $33 trillion in the "business-as-usual" scenario, the report found, and by $21 trillion under the 1.5oC scenario--a difference of $12 trillion.
The report, Pursuing the 1.5oC Limit, was published by the United Nations Development Programme along with "a group of 43 developing countries which are highly vulnerable to climate change," the Independent wrote Wednesday.
Its predictions fly in the face of President-elect Donald Trump's assertions during the presidential campaign that combating climate change would cost billions. And the report's findings appear all the more dire given Trump's climate change denial and vow to pull the U.S. out of the Paris agreement.
In addition to the financial cost, the ecological difference between the 1.5oC and 2.5oC scenarios is significant, the report found.
The Independent summarized its findings:
[Limiting temperature rise to 1.5oC] would also "substantially" reduce the risk of the flooding of large parts of the world's lowest lying land, "with theGreenland ice sheet facing irreversible decline most likely around 1.6C of warming."
All the ice on Greenland would take some time to melt but would raise sea levels by seven meters once completely gone.
Keeping global warming to 1.5 per cent would mean at least 10 per cent of the coral reefs on the planet would survive; any higher and the "virtual disappearance" of this key marine ecosystem would begin.
When it comes to averting doomsday scenarios, the world is swiftly running out of time. A separate report released Wednesday from the International Energy Agency (IEA) found that the world must cut fossil fuel emissions to zero by 2040 to limit warming to 1.5oC. This follows other research that showed temperatures rising over 7degC by 2100, if emissions continue as normal.
"The unavoidable conclusion is that there is an urgent need for immediate radical reductions in energy sector CO2 (carbon dioxide) emissions if there is to be any chance of achieving the 1.5 degree Celsius goal," the IEA said, according to Reuters.
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.
To inform. To inspire. To ignite change for the common good.
News & Opinion
Trending
Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit
Privacy Policy