Last week the folks at @SwissRe released a report suggesting global losses of up to 14% of global GDP by 2050 due to warming expected in a current policy world.
First, credit where credit is due. The report focused on the RCP4.5 scenario in line with current policy projections from folks like @climateactiontr rather than the increasingly implausible RCP8.5 pathway: 2/
However, they then suggest that 2050 temperature outcomes under RCP4.5 would likely be 2C (50th percentile) to 2.6C (95th percentile) based on climate models used in the IPCC 5th Assessment Report. Its here that the problem arises. 3/
The world is currently warming at around 0.2C per decade, and has warmed about 1.3C since preindustrial. If that warming rate continues – which would be a reasonable assumption under a RCP4.5 world of relatively flat future emissions – we would end up at ~1.9C by 2100. 4/
Of course, there are real uncertainties in future warming due to climate and carbon cycle feedbacks, as well as natural variability. These will play more of a role the further out you go, but will add some uncertainty over the next 30 years. 5/
Now, the problem with the @SwissRe approach is this: they are basing their analysis on the range of warming that models project since the early 1800s, not the additional warming that is expected to occur over the next 30 years relative to today. 6/
Here are the CMIP5 RCP4.5 model runs as published in the IPCC AR5. The figure below shows warming relative to the late 1800s (specifically 1861-1899): 7/
The issue here is the huge range of warming that models already project by 2020; while the average model projects warming of 1.3C in line with what actually happened, there is a wide range from 0.8C to 1.9C warming in 2020 relative to 1861-1899. 8/
If we look at the year 2050, we see a range similar to the one Swiss Re quotes; with the 50th percentile of all the models showing around 2C warming and the 95th percentile showing around 2.5C warming. 9/
However, those models showing 2.5C or more warming in 2050 suggest that the world has already warmed by 1.7C+ in 2020, which is clearly not the case. There is no CMIP5 model that shows the world warming by an additional 1.3C (2.3C in 2050 - 1.3C in 2020) in the next 30 years. 10/
An alternative approach is to look at the additional warming in each relative to today – rather than the warming in each model relative to the late 1800s. This figure shows additional warming in RCP4.5 compared to observations from HadCRUT5: 11/
This avoids baking in historical mismatches, and provides a better estimate of the range of plausible near-term warming given where we are today. This approach shows the same 50th percentile warming estimate (2C), but has a 95th percentile of 2.3C instead of 2.5C. 12/
This would not fundamentally change the takeaway of the @SwissRe analysis; if we have a 10% GDP loss at 2C and a 14% loss at 2.6C, than 2.3C is not a good outcome. But it is important that we use observations of what has really happened to inform our near-term projections! 13/13
Sorry, 1.9C by 2050! Oh for want of a twitter edit button...
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The US has committed to an ambitious goal of reducing emissions by 50% to 52% in 2030 relative to 2005 levels. In a new analysis, we look at what we are on track for today, and the additional reductions that would be needed to meet the new goal: thebreakthrough.org/issues/energy/… 1/16
The US has reduced its CO2 emissions by about 20% since 2005. However, nearly all those reductions have been concentrated in the power sector. If current trends continue, we expect US CO2 emissions to be around 30% lower than 2005 levels in 2030: 2/
In this current-trends-continue scenario, electric power sector emissions will fall 60% by 2030 compared to 2005 levels. Residential emissions will fall 18%, transportation emissions 15%, industrial emissions 5%, and commercial emissions will increase by 14%. 3/
In a new analysis, we find there are now 32 countries that have absolutely decoupled economic growth from CO2 since 2005. In these places both territorial emissions and consumption emissions (which include CO2 imported in goods) are falling. thebreakthrough.org/issues/energy/…
A thread: 1/21
Absolute decoupling has long been controversial, with some arguing that economic growth is fundamentally incompatible with emissions reductions. However, around 15 years ago things began to change. 2/
Rather than a 21st century dominated by coal that energy modelers foresaw, global coal use peaked in 2013 and is now in structural decline. We have succeeded in making clean energy cheap, with solar power and battery storage costs falling 10-fold since 2009. 3/
There are reasonable criticisms of too much reliance on assumed future carbon removal, and real barriers to scaling. At best it can offset a long tail of hard to decarbonize emissions and recover from overshoot.
But ruling out large-scale NETs makes 1.5C almost impossible. 1/6
The math of the 1.5C target is brutal, since we are already at between 1.2C and 1.4C today. Either all global emissions need to go to zero in the next 10-20 years, or you need to use large-scale net-negative emissions – as nearly all emissions scenarios used by the IPCC do: 2/6
Natural climate solutions can certainly get us some of the way there. But there are limits to how far they can scale, and real questions about permanence of biological carbon stores in a warming (and fire-prone) world. 3/6 carbonbrief.org/analysis-how-n…
This is actually an interesting question: would a $45k purchase in bitcoin result in a emissions associated with a verifying a single bitcoin transaction (~0.4 tons) or the average CO2 per dollar equivalent of transactions (~2 kg CO2/$, so ~96 tons)?
This makes quite the difference; the former would reduce the benefits of switching from an ICE to a Tesla by around 1.5%, while the latter would make the Tesla 3x worse than an ICE vehicle!
Some claim we can never absolutely decouple economic growth from CO2.
However, the UK is an example of how emission reductions need not come at the expense of prosperity.
Since 1990, the UK's real GDP has increased 80%; at the same time, their emissions have fallen 50%.
And, yes, this just includes territorial emissions; some of the decline since 1990 is associated with offshoring.
But consumption emissions (e.g. from all goods consumed in the UK) have been falling just as rapidly as territorial emissions since 2007: carbonbrief.org/analysis-why-t…
Its not just the UK; here is my home state of California's economic growth and emissions since 1990: