The climate catastrophizer model meltdown
On the heels of major Democratic Party donor Bill Gates reversing course by admitting that climate change will not “decimate civilization,” the world’s most prestigious scientific journal, Nature, officially retracted a key pillar of climate alarmism this week, functionally admitting that much of the anti-energy policy pushed by global elites has no basis in fact.
First published in April of 2024, “The Economic Commitment of Climate Change” broke with the already alarmist consensus on global warming by predicting that economic harms from climate change are five to 20 times larger than more widely accepted estimates. Instead of being viewed skeptically, policymakers from around the world eagerly embraced the projections, incorporating its projections into policy prescriptions regarding topics such as finance, energy, trade, and agriculture. According to Carbon Brief, it was the second most referenced climate paper in 2024.
Policymaking entities relying on the paper included the U.S. Congressional Budget Office, the Organization for Economic Cooperation and Development, the World Bank, and, most importantly, the Network for Greening the Financial System. The NGFS, a consortium of central banks from around the world, used the paper's projections as the basis for bank regulators to “stress test” global monetary policy against climate risks.
https://www.msn.com/en-us/money/markets/the-climate-catastrophizer-model-meltdown/ar-AA1RSavN?ocid=widgetonlockscreen&cvid=69356d4a44f34b588bcb9ec6ec3b0f81&ei=70
