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Estimating damage costs from global warming (climate change) is difficult. Estimated $ values cover a wide spectrum, depending on many assumptions, as well as on which effects are examined, over how long, for which geographical area, compounded by further uncertainties about how much carbon humans will emit how fast, positive feedbacks (e.g., less reflected sunlight when ice melts, more carbon emitted by thawing permafrost), and - most of all - what the warming effects will be for how much emissions, with what kind of lags in warming. Assumptions about adaptation by farmers are a key factor. Perhaps the most important assumption is the discount rate.
2020-2025 Articles
2020-2025 Articles
Ex-Fed Official Sees Secular Shocks Ahead from Extreme Weather 1025.rtf
Planetary Solvency - Risks and Recommendations 0125.rtf
Bleak Outlook after $2 Trillion Climate Event Losses over 2015-2024 - Insurer 1025.rtf
How Extreme Weather Events Already Reshape Europe’s Economic Landscape 0925.rtfExtreme Heat Could Triple Lost Work Hours by Century’s End 0825.rtfFarmers across Europe Struggle to Adapt to the Climate Crisis 0825.rtfForcing Dirty Power Plants to Stay Open Would Cost Americans Billions 0825.rtfThere’s No Such Thing as a ‘Coolcation’ - Sweating Buckets on Arctic Getaway 0825.rtfClimate Study Overestimated Future Climate Damages, due to Uzbekistan Errors 0825.rtfTexas Disaster Adds to US Flood Costs That Exceed $200 Billion 0725.rtfPrice Tag for LA Fires Pegged at $65 Billion 0725.rtfGlobal Warming and Heat Extremes to Enhance Inflationary Pressures 0324.rtfInsurers Want Businesses to Wake Up to Costs of Extreme Heat 0625.rtfUS Spending on Climate Damage Nears $1 Trillion per Year 0625.rtfThe Economic Consequences of Ignoring Climate Change 0525.rtfTrump EPA’a Weakened Rules Projected to Cost $ Billions & 1,000s of Lives 0625.rtfHighways Baking at 158°F Signal a Red-Hot Summer From China to the US 0625.rtfClimate Crisis on Track to Destroy Capitalism, Warns Top Insurer 0425.rtfScientists Calculate the Cost of Oil Giants’ Role in Global Warming 0425.rtfAverage Person Will Be 40% Poorer if World Warms by 4°C 0425.rtfInsurance Crisis with Climate Change Threatens the Broader U.S. Economy 0525.rtfCascading Extreme Weather Events Unleash Billions in Damages Globally 0325.rtfSurge in Marine Heat Waves Costs Lives and Billions in Storm Damage 0225.rtfClimate Disruption May Cut Global GDP and Crop Area 50% by 2070 - 0225.rtf - That is HUGE.Click for moreClimate Crisis Costs the World 12% in GDP for Every 1°C Temperature Rise 0924.rtfEconomic Toll of Los Angeles Fires Goes Far Beyond Destroyed Homes 0125.rtfGlobal Economy Could Face 50% GDP Loss by 2070-2090 from Climate Shocks 0125.rtfForecaster Estimates LA Fire Damage at More than $250 Billion 0125.rtfLA Fire Crews Fight Blazes as a Damage Cost Estimate Rises to $150 Billion 0125.rtfThe Business Case for Saving Coral Reefs 0125.rtf$52 Billion Cost Would Rank LA Fires Among Worst US Disasters 0125.rtfThe Climate Cost of Trump’s Tariffs 1224.rtfExtreme Weather Cost $2 Trillion Globally over Past Decade 1124.rtfGlobal GDP Seen Taking Much Bigger Climate Hit than First Feared 1124.rtfSystem That Moves Water around Earth Is Off Balance for 1st Time in Our History 1024.rtfConsecutive Hurricanes Strain FEMA, as 1st One Causes $250+ Billion Damage 1024.rtfReal Estate Portfolios Facing Huge Climate Hit, GIC Report Says 0924.rtfGlobal Warming’s Economic Risks to Rise Most Quickly for the Rich 0924.rtfExtreme Heat’s Cost in California - 100s of Deaths, 1,000s of Injuries, Billions of $ 0724.rtfClimate Change Is Already Making Your Bills More Expensive 0624.rtfFlooding Costs U.S. $100s of Billions per Year, as Risks Mount 0624.rtfTexas Droughts Are Getting Much More Expensive 0624.rtfDebt Payments by Countries Most Vulnerable to Climate Crisis Soar 0624.rtfIncreasing Use of Renewable Energy in US Yields $ Billions in Benefits 0524.rtf - savingsSchools That Never Needed AC Are Now Overheating. Fixes Will Cost Billions. 0524.rtfRotten Bananas in a Scorching India Expose Climate's Food Cost 0524.rtfBatteries Saved Texas Consumers $683 Million during 2-Day January Freeze 0524.rtf - savingsGrid Investment Must Outpace Renewables for Net Zero, BNEF 0524.rtfIs Net Zero by 2050 Still Possible? Yes, But It’ll Cost 19% More. 0524.rtfWildfires Pose Hidden Threat to Mortgage Lenders and Investors 0424.rtfExtreme Heat Shuts Philippine Power Plants and Risks Blackouts 0424.rtfClimate Change to Diminish Average World Incomes Nearly 20% by 2050 - 0424.rtfClimate Price Tag to Hit $38 Trillion per Year 0424.rtfWhy Americans Pay So Much More than Anyone Else for Weather Disasters 0324.rtfNearly Half of U.S. Homes Face Severe Threat from Climate Change 0324.rtfAustralia Warns of Critical Financial Risks from Climate Change 0324.rtfUS, Philippines Pay Highest Economic Price for Climate-Fueled Weather 0224.rtfClimate Change to Slash African GDP by 7.1% and Revenue from Crops by 30% - 0224.rtfIs Global Warming Making Natural Disasters Costlier? Consider Australia’s 2019 Black Summer of Fires 0124.rtf4 Things to Know about EPA’s Updated Social Cost of Carbon 0124.rtfU.S. Hit by Record Number of High-Cost Disasters in 2023 - 0124.rtfNatural Disasters Led to $250 Billion in Global Losses Last Year 0124.rtfClimate Change Costs the U.S. Roughly $150 Billion Each Year 1123.rtfTexas Economy Slows as Summers Get Hotter - Dallas Fed Economists 1023.rtfPanama Canal Will Slash Ship Crossings Again due to Drought 1023.rtfSea Level Rise Projected to Drain Florida’s Financial Future 1023.rtfHotter Summers Mean More Inflation Pressure - Europe Central Bank 1023.rtfClimate Crisis Costs $16 Million per Hour in Extreme Weather Damage 1023.rtf - $140 billion per year over 20 years. Does not include data from most low-income countries, nor crop effects. 2/3 of damage is in lives lost, 1/3 in damage to property and other assets. 7-fold increase in losses since 1970s.Climate Destruction Fuels Growing Sector of the US Economy 1023.rtf - Repair costs add to GDP, but destruction costs do not subtract from it.Climate Change Could Impose ‘Substantial Financial Costs’ on U.S. Household Finances, Treasury Warns 1023.rtfExtending Australia’s Biggest Coal Plant Life Cost $1.7 Billion in Damages a Year 0923.rtfHurricane Idalia Could Become 2023’s Costliest US Climate Disaster Yet 0823.rtfEconomic Toll from Maui Fires Estimated as High as $6 Billion 0823.rtfUniversity of Chicago Study Exposes Huge Cost of Emissions 0823.rtfClimate Change Hits the Rhine, Europe’s Key Trade Route, Risks $99 Billion 0723.rtf - Need to re-do barges, to carry more and lighter loads, as river level falls. Also switch to rail and road transport, as well as moving operations to other locations.Extreme Heat Is Endangering America's Workers—and Its Economy 0823.rtfBiden Says Extreme Heat Costing US $100 Billion Annually 0727.rtfExtreme Heat Threatens Europe's $2 Trillion Travel Industry 0723.rtfScorching Heat Inflicts $100 Billion Productivity Drain on American Businesses 0723.rtfExtreme Heat Will Drive Up US Health Care Costs by $1 Billion Each Summer 0723.rtfDomestic Oil & Gas Production Led to $77 Billion a Year in Health Impacts 0723.rtfCanada Offers Lesson in the Economic Toll of Climate Change 0723.rtfWhat Climate Change Means for US Federal Debt 0623.rtfRich, High-CO2 Emitting Nations Could Pay $170 Trillion in Climate Reparations 0623.rtfClimate Change Is Exacerbating Inflation Worldwide 0523.rtfFossil Fuel Firms Owe Climate Reparations of $209 Billion a Year, Says Study 0523.rtfEl Niños Cause Trillions in Lost Economic Growth 0523.rtfCanada Forest Fires Are Costly Climate Disaster Missing from Public Accounts 0523.rtfAmazon Rainforest Damage Could Cost Brazil $184 Billion - World Bank 0523.rtfNatural Disasters Caused $313 Billion Economic Loss in 2022 - 0123.rtfWhy EPA’s Huge Social Cost of Carbon Might Fail to Halt CO2 Emissions 0323.rtfA $24 Billion Wave of Climate Losses Faces Meat and Dairy Firms 0323.rtfIn a 1st, Coal Company Agrees to Use Social Cost of Carbon 0323.rtfIn Fraud, Insurers Slashed Hurricane Ian Payouts Far below Damage Estimates 0323.rtfThe Business Case for Reversing Extinction 0323.rtfClimate Change Risks Costing Germany Up to €900 Billion by 2050 - 0323.rtfAdapting to Climate Change Will Only Get More Expensive 1221.rtfHow Climate Change Is Making Cotton Goods More Expensive 0223.rtfCosts Could Rise Even More in 2023. 1,000s of CEOs Blame Climate Change. 0223.rtfUS Climate Disasters Racked Up $165 Billion in Damage in 2022 - 0123.rtfExtreme Weather Spread in 2022, with $270 Billion in Losses, $120 Billion Insured 0123.rtfStorms, Floods and Fires Caused $260 Billion in Losses in 2022 - 1222.rtfThe Tricky Business of Putting a Dollar Value on a Human Life 1222.rtfCanada's Economy Seen Taking 5.8% Hit on Climate Change by 2100 - 1122.rtf‘We Have No Dry Land Left’ - Impact of Pakistan Floods to Be Felt for Years 1022.rtfBiodiversity Loss May Push Developing World Closer to Default 0922.rtfMoody’s Has a $1.9 Trillion Warning over Biodiversity 0922.rtfAs Floods Subside, Pakistan’s Economy Is on a Knife-Edge 0922.rtfThe World Has a $1 Trillion La Niña Problem 0922.rtfClimate Change Could Worsen Supply Chain Turmoil 0922.rtfEuropean Power Prices Shatter Records, as Energy Crisis Intensifies 0822.rtfDrought Hurts China’s Economy, as Central Bank Cuts Rates 0822.rtfClimate Change Could Push Flood Damage to $3 Billion a Year in Western U.S. 0822.rtfEuropean Power Prices Smash Records, in Another Inflation Blow 0822.rtfExtreme Heat Is Slamming the World's 3 Biggest Economies All at Once 0822.rtf - It reduces China’s forecast GDP growth by 2.7% and Germany’s by 0.4%. In California, USA, 50% of farmers said they had to remove trees and multi-year crops due to drought.Economic Damage from Heat Waves and Drought Dwarfs Europe’s Energy Crisis 0822.rtfWorsening Drought Drives California Water Prices to All-Time High 0822.rtfExtreme Weather Caused $65 Billion in Global Losses in 1st Half of 2022 - 0722.rtfClimate Change Is Killing People and Taking Trillions of Dollars 0722.rtfNearly $2 Trillion of Damage Inflicted on Other Countries by US Emissions 0722.rtfDeaths, Costs of Climate-Linked Disasters May Be Grossly Undercounted 0622.rtfClimate Change Cost $525 Billion and Erased 1:5 of Exposed Nations’ Growth Potential 0622.rtfDeloitte Research Reveals Inaction on Climate Change Could Cost the World’s Economy - 0522 - take1US$178 trillion by 2070 - 0522.rtfClimate Inaction Could Cost the World $178 Trillion 0522.rtf - take 2Climate Change Boosted Cost of Japan Storm by $4 Billion 0522.rtfRecord Wildfires Threaten to Wreak $200 Billion in Global Damage 0522.rtfPoor Nations Face 4 Times More Climate Change Risk, S&P Warns 0422.rtfClimate Crisis Could Cost US $2 Trillion a Year by 2100, White House Warns 0422.rtfGlobal Losses from Catastrophes Reached $270 Billion in 2021 - 0322.rtf - That’s $7-8 per tonne of CO2 emitted.McKinsey Pegs the Price Tag of a Livable Climate at $9.2 Trillion a Year 0122.rtfClimate Change Fueled 3rd Costliest Losses Ever in 2021, under Half Was Insured 0122.rtfLumber Prices Are off the Rails Again. Blame Climate Change. 0122.rtf - Blame pine bark beetles for lots more forest fires in British Columbia, the source of most building lumber for the US.US Hit by 20 Separate $ Billion Climate Disasters in 2021 - NOAA 0122.rtfGerman Floods Cost a Record $40 Billion, Munich Re Estimates 0122.rtfU.S. Businesses Could Face $13.5 Billion from Flood Damage Next Year 1221.rtfClimate Change Will Cost Ontario Billions, Fiscal Watchdog Warns 1221.rtfGlobal Economy Can Grow if World Warms Less than 1.5°C - 1121.rtfECB Says Ignoring Climate Change May Decimate Europe’s Economy 0921.rtfWe’ve Been Radically Underestimating the True Cost of Our Carbon Footprint 0921.rtf - Most of all, earlier studies have not used the cost of human mortality, including the US government’s Social Cost of Carbon. Second, the discount rate, based on financial studies of time preference is too high, since it undervalues future generations, who cannot chime in, at least not as well. The discount rate is a moral choice more than a financial choice.Climate-Driven Extreme Heat Threatens $500 Billion a Year in U.S. Costs by 2050 - 0921.rtfBy Acting on Climate Change, India Can Gain $11 Trillion in Economic Value by 2070 - 0821.rtfReducing Carbon Emissions & Air Pollution Benefits the Global Economy 0821.rtf - % GNP loss for countries per GT CO2The Costs of Climate Tipping Points & How They Could Compound One Another 0821.rtf3.5 Americans Create Enough Carbon Emissions to Kill 1 Person 0721.rtf - 4,434 metric tonnes of CO2 yields 1 person dying this century from increased temperature. 904 deaths from operating a tyoical US coal power plant for 1 year. Eliminating planet-heating emissions by 2050 would save an expected 74 million lives around the world this century. It would take 3.5 Americans, 25 Brazilians or 146 Nigerians to kill 1 person. - take 1. See take 2 below in the “Refugees” section.Climate Crisis to Shrink G7 Economies Twice as Much as Covid-19 - 0621.rtfClimate Change Could Cut World Economy $23 Trillion in 2050, Swiss Re Warns 0421.rtfCost of Flood Damage to U.S. Homes Will Increase by 61% in 30 Years 0221.rtfClimate Change Increases Flood Risk for Some 230,000 Ohio Valley Homes 0221.rtfClimate Change, Rising Seas to Raise Annual US Flood Damage Cost by $34 Billion in Coming Decades 0221.rtfRecord Number of Billion-Dollar Disasters Struck the U.S. in 2020 - 0121.rtfLarge Variation in Daily Temperatures Linked to Lower Economic Growth 0221.rtfRising Heat and Snow-Bare Peaks Chill Nepal's Mountain Economy 0221.rtfExtreme Weather Causes Huge Losses in 2020 - 1220.rtfReport Tallies the Costs of Climate Change on NC Economy, Health 1220.rtf50 Years of Climate Inaction Will Cost Australia $3.4 Trillion and 880,000 Jobs 1120.rtfClimate Impacts 'to Cost World $7.9 Trillion' by 2050 - 0420.rtfClimate Change Poses ‘Profound Threat' to Global Growth - IMF Chief 1020.rtfStronger Action on Climate Change Would Benefit the Economy 0420.rtf - Inaction costs $150-792 trillion by 2100. That’s 2-9 times Gross World Product.
2019 Articles and earlier
2019 Articles and earlier
The Price Tag for Climate Change Is in the Trillions 1119.rtfClimate Events Have Cost the US More than $500 Billion over the Last 5 Years 1119.rtfTexas Economy Slows as Summers Get Hotter - Dallas Fed Economists 1019.rtfClimate Change Could Cost the U.S. Up to 10.5% of Its GDP by 2100 - 0819.rtfSea Level Rise Could Cost Florida $76 Billion, US $400 Billion by 2040 - 0719.rtfMoody’s Analytics Says 2°C Climate Change Could Cost $69 Trillion by 2100 - 0719.rtfClimate Change Could Slash $571 Billion from Australia’s Property Values 0519.rtfThe Green New Deal Costs Less than Doing Nothing 0519.rtfThe Next Financial Crisis Could Be Caused by Climate Change 0119.rtfHurricane Michael Cost Tyndall AFB $5 Billion, One of 2018's Weather Disasters 1218.rtfTackle Climate or Face Financial Crash, Say World's Biggest Investors 1218.rtfClimate Change Could Cost the U.S. $515 Billion a Year by 2100 - 1218.rtfPeak CO2 Pollution by 2050, Not 2100+, Saves $208+ Billion a Year - 4th NCA 1118.rtfZinke Says Northern California Fire Costs Likely in Billions 1118.rtf4th US Climate Assessment Says Damage Is ‘Intensifying across the Country’ 1118.rtf - This includes $155 billion a year in lost labor productivity by 2100, $141 billion a year from deaths from heat, and $118 billion a year in coastal property damages.Climate Change to Cost US More in Economic Damage than All but One Nation 0918.rtf - $48 / tonne of CO2 local damage in US (compare to $42 social cost of carbon under Obama), $86 in India, less elsewhere, for a total of $417 / ton. Negative in Russia (Siberia) and some of Canada and Scandinavia, at least for a while. This does not include potential catastrophic events, short-term costs of adaptation, biodiversity loss, or the longer-term impacts of sea level rise and ocean acidification.Fighting Climate Change Could Boost the Global Economy by $26 Trillion 0918.rtfMost Economic Forecasts Have a Big Blind Spot - Climate Change 0818.rtfAmid Fires and Hurricanes, Price of Climate Change Begins to Hit Home 0818.rtfCost of Coastal Flooding in Europe Could Reach $1 Trillion Annually by 2100 - 0818.rtfToxic ‘Red Tide' Algae Bloom Is Killing Florida Wildlife and Menacing Tourism 0818.rtfAdding Up the Cost of Climate Change in Lost Lives 0818.rtfPoor Countries Face $168 Billion Interest Bill due to Climate Change 0718.rtfWe Are Very Likely Underestimating the Economic Risks of Climate Change 0618.rtf - tipping points; use renewables & storage costs from several years ago, underestimate energy efficiency, omit social benefits, don’t adjust well for uncertainties and “fat tails”, need steeper damage function (e.g., 50% GNP loss for 6°C).Reducing Warming from 2° to 1.5°C Will Save World $30 Trillion in Damages 0518.rtfGlobal Warming Will Depress Economic Growth in Trump Country 0518.rtfClimate Impacts of the Kinder Morgan Pipeline Could Cost Up to $8.7 Billion 0518.rtfClimate Change Threatens National Security with Instability, Uncertainty, Chaos 0418.rtf$306 Billion in 1 Year - US Bill for Natural Disasters Smashes Record 0118.rtf2017 Set a Record for Losses From Natural Disasters. It Could Get Worse. 0118.rtfCalifornia Department of Insurance Estimates Wildfires Losses at $1.05 Billion 1017.rtf$300 Billion Early Estimate for Climate Change Costs of Hurricanes, Fires 0917.rtfHidden Costs of Climate Change Running 100s of Billions a Year 0917.rtf - Air pollution costs China 10% of GDP, India 8% - World BankTexas Sees Harvey’s Damage at Up to $180 Billion 0917.rtfRising Temperatures Cut Economic Output 0917.rtfClimate Change Costs India $10 Billion Every Year - Government 0817.rtfHow Extreme Could Temperatures Become in Texas? 0817.rtfHow Climate Change Impacts Congressional Districts Over Next 80 Years 0717.rtfWorld’s Young Face $535 Trillion Bill for Climate Change 0717.rtfThe Great Barrier Reef Is a Treasure Worth $42 Billion 0617.rtfClimate Change in the U.S. Could Help the Rich and Hurt the Poor 0617.rtfUrban ‘Heat Islands' Seen Doubling City Costs for Climate Change 0517.rtfIgnoring the Worst Case Scenario Comes with a Hefty Price Tag 0317.rtfDuring Sandy, Wetlands Averted US $625 Million in Damages 1116.rtfWorld Economy Will Lose $12 Trillion unless Greenhouse Gases Are Tackled 1116.rtfHidden Cost of Death Is in the Air 0916.rtfClimate Change Could Cost Millennials $ Trillions in Lifetime Income 0816.rtfSoaring Temperatures Will Make It Too Hot to Work, Cost Over $2 Trillion by 2030 - 0716.rtfFlooding Costs Will Soar in a Warming World, Economic Analysts Say 0616.rtfClimate Change Puts 1.3 Billion People, $158 Trillion at Risk, Says World Bank 0516.rtfClimate Change Will Wipe $2.5 Trillion off Global Financial Assets 0416.rtfClean Energy Is Win-Win for the US 0316.rtf - Clean energy will save $250 billion a year in the US, by 2030, compared to a base case heavy on fossil fuels.As Sea Levels Rise, Economic Damage Piles Up Even Faster 0216.rtfFarm Report - Montana to Lose Millions to Climate Change 0216.rtfBalmy Winter Hits French Ski Workers in Wallet 1215.rtfClimate Change Hits Australia’s Economy for $8 Billion 1115.rtfClimate Change Could Push 100+ Million Into Extreme Poverty by 2030 - World Bank 1115.rtfThe Warmer It Gets, the More World Economy Hurts 1015.rtfScientists Calculate the Dramatic Economic Cost of a Warming Arctic 0915.rtfSouth Asia at Front Lines of Mounting Climate Costs - Asian Development Bank 0915.rtfBillions of Dollars of Pacific Infrastructure at Risk from Climate Change 0715.rtfInaction on Climate Change Would Cost Billions, Major EPA Study Finds 0615.rtfOmitted_Damages_Whats_Missing_From_the_Social_Cost_of_Carbon.pdfWater Insecurity Costs Global Economy Billions a Year 0415.rtfAustralia’s CSIRO Warns of '$1 Trillion' Natural Disasters Exposure 1214.rtfClimate Change Costs to Poor Underestimated - UN 1214.rtfResearch Finds Looming $1 Trillion a Year Costs of Ocean Acidification 1014.rtfAcid Damage to Coral Reefs Could Cost $1 Trillion 1014.rtf - an earlier perspective on the same report as aboveHealth Benefits of Reducing Emissions Outweigh Costs Involved 0814.rtfClimate Change Could Slash 8.7% from India’s GDP by 2100 - 0814.rtfCline's $ US Damage Estimate from 1990.xlsxClimate Costs 'May Prove Much Higher' 0414.rtfImpacts and Costs of Climate Change - Watkiss 0905.pdfCosts of Climate Change Steep, But Tough to Tally 0314.rtfClimate, GDP Link in Pacific Islands 1213.rtfClimate Change Will Pose Rising Burden on U.S. Taxpayer 1113.rtfGlobal Warming Threatens Pacific Economies 1113.rtf'Social Cost' of Carbon Emissions Rising, But Are Still Underestimated 0214.rtfCosts of Natural Disasters in China Surge to $69 Billion 0214.rtfThe Cost of Climate Change 0913.rtf - % of GNP, US emphasisWe Need Climate-Change Risk Assessment 1013.rtfCost of 2012 Disasters by Region.jpgCost of Disasters, 2012 Back to 1970 - Swiss Re 0413.pdfClimate Change in the US - the Prohibitive Costs of Inaction - UCS 0809.pdfHuge Arctic Methane Belch Could Cost Us $60 Trillion 0713.rtfFlood Insurance Changes Run Into Resistance 0713.rtfGlobal Warming's Terrifying New Math 0613.rtfMicrowave Oven Rule Shows Obama’s Climate Policies 0613.rtfExtreme Weather Caused $110 Billion in US Damages in 2012 0613.rtfDARA - Climate Change Costs Already $1.2 Trillion a Year 1112.pdf - press release; ($695 B from climate, rest from air pollution)How Much It Will Cost to Save Pakistan's Economy’s Foundation 0312.rtfServices of Coral Reefs, Forests Worth Trillions 1109.rtfUN- Environmental Damages = $6.6 Trillion a Year 1010.rtfUS Weather Extremes Cost 2:3 of Global Losses 0513.rtfCaribbean Cost of Inaction 0513.rtfUS Dominated Global Disaster Losses In 2012 0413.rtfClimate Disasters Threaten US Budget 1212.rtfClimate Impacts Cost $1.2 Trillion a Year 0912.rtf - press summary of DARA report, see aboveWorsening Weather Battering Bottom Line 1012.rtfPoorer Countries’ Economies Are Harmed by Hotter Temperatures 0812.rtfDrought Strains US Oil Production 0712.rtfInsurers Cut Coverage with More Weather Extremes 0412.rtfGrowing Losses Make Insurers Allies in the Climate Fight 1111.rtfAdaptation to Cost Poor $100B + 0909.rtfReal Climate Change Costs Could Triple Early Estimates 0809.rtf$74 T Cost of Climate Inaction 0905.pdfNRDC-Tufts US Cost $3.8T by 2100 0508.pdfDARA Costs of Climate Change - Exec Sum 1112.pdfDARA - Climate Change Costs Already $1.2 Trillion a Year 1112.pdfClimate Change to Cost 19% of GDP by 2030 0909.pdfCBO Cap & Trade Costs 0609.pdf - 16 pp. $175 per HouseholdUS Inaction Could Cost $3.8 T per Year 0506.rtfWho's Paying the Price for Global Warming? Taxpayers! 0513.rtf
Microwave Oven Rule Shows Obama’s Climate Policies 0613.rtf
Social Cost of Carbon study is available on Overviews page. ($2007 per ton of CO2 emitted)
2013 Edition
2010 Edition
Cost of Disasters, 2012 Back to 1970 - Swiss Re 0413.pdf 44 pp
The losses add up to about $60 billion in insured US disaster losses in 2012. Corn Belt Drought losses not all tallied yet
2012 Insured losses were $US 77 billion, 3rd behind 2011 ($126 B) and 2005 (> $100 B).
2012 Insured losses were $US 77 billion, 3rd behind 2011 ($126 B) and 2005 (> $100 B)
DARA’s estimated worldwide damages from climate change are in bilions of US $. World total is $4.345 trillion in 2030.
Circled figures below 2010 and 2030, from left to right, are for Developing Countries Low Emitters, Developing High Emitters, Developed, and Other Industrialized.
Climate Change to Cost 19% of GDP by 2030 0909.pdf - 164 pp
Emphasizes adaptation costs. One of many examples is below.
US Damages to Cost Over $1.9 Trillion a Year by 2100 - Ackerman & Stanton (NRDC) 0508 - 42 pp
Water costs (esp. for agriculture and esp. in the West, mostly for desalination and recycling water) cope with drought and groundwater depletion. Real estate losses are from sea level rise (45 inches by 2100). Energy costs include increased cooling requirements, higher transmission thermal losses, and curtailed power production due to heat & drought. Other impacts (food losses, health, etc.) not included.
$74 T Cost of Climate Inaction 0905.pdf - 88 pp, modeling by Chris Hope
Estimated costs are based on FUND and PAGE Monte Carlo simulations. Such simulations use many scenarios, based on multiple values (usually 2-5) for each of several (usually 5-20) key inputs.
A2 scenario, below, is "Business as Usual".
William R. Cline’s 1992 estimate of damages in the US alone (his Table 3.4) from many of the same categories addressed by DARA, Ackerman & Stanton, and others. (from The Economics of Global Warming. Institute for International Economics, Washington DC, June 1992. ISBN 0-88132-150-8)
Note that the estimate is just for the US, not the world, as the DARA, Watkiss and "Climate Change to Cost 19% of World GDP by 2030 - 0909" estimates are. Cline’s estimate is more comparable to Ackerman and Stanton’s - also for the US, but in 1990$ instead of 2006$.
Cline’s estimated $61 billion in damages for 2.5°C warming may correspond to somewhere between the 2050 and 2075 damage estimates from Ackerman and Stanton. Thus, Cline's are a good bit lower, even though A & S examined only 4 sectors. Cline’s estimate for those 4 sectors alone was about $60 billion in 2006$. In retrospect, given the costs of recent US drought and hurricane damages, Cline’s estimates seem low.
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