Global and regional aggregate damages associated with global warming of 1.5 to 4 °C above pre-industrial levels

Warren, R., Hope, C., Gernaat, D. E. H. J., Van Vuuren, D. P. and Jenkins, K. (2021) Global and regional aggregate damages associated with global warming of 1.5 to 4 °C above pre-industrial levels. Climatic Change, 168 (3-4). ISSN 0165-0009

[img] PDF (Published_Version) - Published Version
Available under License Creative Commons Attribution.

Download (717kB)

Abstract

We quantify global and regional aggregate damages from global warming of 1.5 to 4 °C above pre-industrial levels using a well-established integrated assessment model, PAGE09. We find mean global aggregate damages in 2100 of 0.29% of GDP if global warming is limited to about 1.5 °C (90% confidence interval 0.09–0.60%) and 0.40% for 2 °C (range 0.12–0.91%). These are, respectively, 92% and 89% lower than mean losses of 3.67% of GDP (range 0.64–10.77%) associated with global warming of 4 °C. The net present value of global aggregate damages for the 2008–2200 period is estimated at $48.7 trillion for ~ 1.5 °C global warming (range $13–108 trillion) and $60.7 trillion for 2 °C (range $15–140 trillion). These are, respectively, 92% and 90% lower than the mean NPV of $591.7 trillion of GDP for 4 °C warming (range $70–1920 trillion). This leads to a mean social cost of CO2 emitted in 2020 of ~ $150 for 4 °C warming as compared to $30 at ~ 1.5 °C warming. The benefits of limiting warming to 1.5 °C rather than 2 °C might be underestimated since PAGE09 is not recalibrated to reflect the recent understanding of the full range of risks at 1.5 °C warming.

Item Type: Article
Faculty \ School: Faculty of Medicine and Health Sciences > School of Health Sciences
Faculty of Science > School of Environmental Sciences
Depositing User: LivePure Connector
Date Deposited: 04 Nov 2021 02:12
Last Modified: 29 Nov 2021 01:40
URI: https://ueaeprints.uea.ac.uk/id/eprint/81973
DOI: 10.1007/s10584-021-03198-7

Actions (login required)

View Item View Item