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Found 3 results

  1. The warning, issued in a new report by the EU Commission’s Joint Research Center, provides the most compelling evidence for climate action in the European Union. The study (pdf) offers a comprehensive view of the impacts of unrestrained climate change on agriculture, rivers, coasts, tourism, energy, forests, transport infrastructure and human health in Europe. The authors of the study say their estimates are conservative – as in, they underestimate the negative effects from climate change. The study is based on current population and economic growth levels which is used to make predictions 60 years into the future. But things change, and Europe will look completely different in terms of population levels and economic growth and development just 60 years from now. This means that the consequences of inaction could be much higher. Some impacts such as damages to biodiversity or ecosystem losses cannot be monetised and have therefore been left out from the study's calculations of welfare loss. Abrupt climate change or the consequences of passing climate tipping points (such as the Arctic sea-ice melting) are also not integrated in the analysis. Despite this, the study paints a grim enough picture. Over 8,000 square kilometres of forest could burn down if Europe fails to take adequately action against climate change. There will also be extensive damage from floods, which could exceed costs of €10bn every year by 2080. At the same time, coastal damage from rising sea levels will treble and amount to losses of €42 billion. Drought affected areas is expected to increase by sevenfold, and as a result the losses in the agriculture sector is expected to reach around €18 billion. Premature death from heat stress or other climate-related impacts will soar to 200 000 people annually. All in all, the European Union will lose €190 billion annually in economic losses from unrestrained climate change, which is estimated at a net loss of 1.8% of Europe's total GDP. Southern and south central Europe would be the worst-hit regions and bear 70% of the burden. If Europe adheres to the current international target of 2 degrees Celsius there will still be consequences, the study notes. But they won’t be as severe. The total bill would be reduced by at least €60 billion, save 23 000 lives from premature deaths, and improve the overall quality of life for Europeans by reducing air pollution. “No action is clearly the most expensive solution of all,” said Connie Hedegaard, EU Commissioner for Climate Action, in response to the new study. “Why pay for the damages when we can invest in reducing our climate impacts and becoming a competitive low-carbon economy?” “Taking action and taking a decision on the 2030 climate and energy framework in October, will bring us just there and make Europe ready for the fight against climate change,” Hedegaard said. Unfortunately there are EU member states, such as Poland and other eastern states, which are willing to oppose new and tougher climate goals for Europe. So despite this study, and other economic and climate analysis, Europe remains divided on which approach to choose – climate action or business-as-usual.
  2. New research shows that our existing economic models “grossly underestimate” the costs of climate change. As a result, current carbon prices are 10 to 20 times lower than they need to be to stop catastrophic climate change. The shocking (but somewhat not surprising) findings are presented in a new study by leading climate economist Nicholas Stern and co-author Simon Dietz, from the UK’s Grantham Research Institute. According to their research we need a globally coordinated carbon price of $32 to $103 per tonne of emissions, as early as next year. And within two decades the price need to almost triple and rise to $82-260 per tonne of carbon emissions. Current carbon prices are much, much lower than this. In the European Union, a tonne of carbon emissions costs €5.7 or about $7.7. In California a tonne of carbon emissions - despite having one of the world’s highest carbon price - only costs around $12. The report, which will be published in the Economic Journal, came to this conclusion after reviewing the DICE-model, a widely-used economic model developed by Yale Professor Bill Nordhaus in 1991. This model by Nordhaus has served as a basis for other major climate studies – such as the recent IPCC report. The problem though is that the DICE-model is based on data of the climate impacts we had knowledge about in the 90s. But nowadays, that data is old as we now know that the climate impacts are much worse than we previously expected. Unfortunately, the usage of this old model has led to a severe underestimation of the taxes and fees required. “It is extremely important to understand the severe limitations of standard economic models, such as those cited in the IPCC report, which have made assumptions that simply do not reflect current knowledge about climate change and its [...] impacts on the economy,” Stern said. The revised economic model by Stern and Dietz takes into account new and updated climate data. It also calculates that the ability to generate new wealth would be affected by climate change – due to climate impacts such as extreme weather, destruction of coastal and water infrastructure, and so on. “The new version of this standard economic model, for instance, suggests that the risks from climate change are bigger than portrayed by previous economic models and therefore strengthens the case for strong cuts in emissions of greenhouse gases,” Dietz said.
  3. I think it’s safe to say that we all feel that cable news networks could do their global warming coverage much better and more extensively than they currently do. But how well do they actually cover the climate crisis? Last week the U.S. federal government released the National Climate Assessment (NCA). The report details the highly acute impacts of climate change, impacts that are affecting every sector of society already and will only get worse as time goes. It’s an important report, especially for U.S. citizens. But according to new data by ThinkProgress only one American cable news network took the study seriously and actually covered climate change the right way. Al Jazeera America devoted a total of 120 minutes of airtime to the climate report. That’s miles ahead of FOX News who only dedicated 24 minutes to cover the report. CNN spent less than 80 minutes on it, and MSNBC only thought the new climate report was only worth 61 minutes of airtime. Al Jazeera America (AJAM) clearly devoted the most time to this new climate report, and they did so extensively compared to their competitors. “Besides reporting directly on the assessment and its contents, AJAM had reporters in San Francisco and South Florida to cover the impacts of sea level rise on coastal communities, one in the West looking at drastically low snowpack and drought, and featured NCA authors, climate scientists, and others explaining the assessment’s findings in-depth. AJAM’s 8pm News hosted by John Seigenthaler devoted over half of its hour-long running time to the climate assessment and its implications, more than Fox News spent over the course of the day,” ThinkProgress writes.