Home Daily Blitz The World Is Dangerously Lowballing The Economic Cost Of Climate Change, Study Finds

The World Is Dangerously Lowballing The Economic Cost Of Climate Change, Study Finds

SAN ISIDRO, PUERTO RICO - OCTOBER 17: A resident (L) pleads with others to make room as U.S. soldiers prepare to pass out food and water, provided by FEMA, to residents in a neighborhood without grid electricity or running water on October 17, 2017 in San Isidro, Puerto Rico. The food and water delivery mission included U.S. Army, U.S. Coast Guard and Puerto Rico Hacienda forces. Residents said this was the first official governmental delivery of food and water to the community, nearly four weeks after the hurricane hit. Puerto Rico is suffering shortages of food and water in areas and only 17.7 percent of grid electricity has been restored. Puerto Rico experienced widespread damage including most of the electrical, gas and water grid as well as agriculture after Hurricane Maria, a category 4 hurricane, swept through. (Photo by Mario Tama/Getty Images)

The following is an excerpt from Alexander C. Kaufman | June 3, 2018 | Huffingtonpost.com |

Leading global forecasts widely underestimate the future costs of climate change, a new paper warns.

The findings, to be released Monday in the Review of Environmental Economics and Policy, say projections used by the United Nations Intergovernmental Panel on Climate Change rely on outdated models and fail to account for “tipping points” ― key moments when global warming rapidly speeds up and becomes irreversible.

The IPCC, established in 1988, is the leading international body for assessing climate change, and took on an expanded role after every country on Earth signed the Paris Agreement, the first global pact to cut greenhouse gas emissions. By relying on inaccurate economic models, the organization is misleading policymakers around the world about the risks of climate change, according to the researchers at the Environmental Defense Fund, Harvard University and the London School of Economics who co-authored the paper.

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