Forbes Calls BS on the latest Climate Economics Doomsday Prediction
19 hours ago Eric Worrall
Essay by Eric Worrall
”… While I am not an economist, in my opinion the data seems flawed. …”
New Study: Climate Change Could Reduce The World Economy 19% By 2049
Jon McGowan
Contributor
I am an attorney who writes about ESG policy, laws, and regulations.
A new study claims that loss of productivity because of climate change could result in a 19% reduction in the world economy by 2049. Despite the number being significantly higher than previous studies, the authors claim their numbers are conservative and could be as high 29% of the global GDP. Climate activists were quick to latch onto the study, calling for more aggressive measures to prevent climate change and fund mitigation efforts.
The study, The economic commitment of climate change, was published in Nature on April 17 by researchers at the Potsdam Institute for Climate Impact Research, also known as PIK, a non-profit organization funded by the German government.
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While I am not an economist, in my opinion the data seems flawed. According to a study published by NOAA in January 2024, the average temperature has risen 2° F since 1850. In that same period, the global GDP increased from $1.73 trillion to $134.08 trillion. If we accept the climate projection models used in the study, it dismisses the resiliency of human nature and our ability to overcome economic challenges.
https://wattsupwiththat.com/2024/04/30/forbes-calls-bs-on-the-latest-climate-economics-doomsday-prediction/
