It's better than we thought
Mar 27, 2014
Bishop Hill in Climate: WG2

I have been conscious that I should have been trying to get to grips with the leaked WGII Summary for Policymakers but, with one thing and another, I haven't even made a start.

So it's just as well that James Delingpole is on the case, and making rather more than a start.

Previous reports - notably the hugely influential 2006 Stern Review - have put the costs to the global economy caused by 'climate change' at between 5 and 20 percent of world GDP.

But the latest estimates, to be published by Working Group II of the IPCC's Fifth Assessment Report, say that a 2.5 degrees Celsius rise in global temperatures by the end of the century will cost the world economy between just 0.2 and 2 percent of its GDP.

If the lower estimate is correct, then all it would take is an annual growth rate of 2.4 percent (currently it's around 3 percent) for the economic costs of climate change to be wiped out within a month.

Blimey.

[PS James - I know! I still haven't reviewed your book yet. I will!]

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