Franzke, C. L. (2021). Towards the development of economic damage functions for weather and climate extremes. Ecological Economics, 189, 107172. doi.org/10.1016/j.ecol…
Comprehensively validates (again) the normalization literature
Short thread...
Economic damage from weather extremes has increased around the world as wealth & exposure have grown
But normalized for GDP, damage is down sharply
This is great news
This trend holds in Africa
This trend holds in Asia
This trend holds in Europe
This trend holds in North America
This trend holds in Central America
This trend holds in South America
This trend holds in Oceania
The paper concludes
"normalized damages have downward trends for all continents"
Why?
Wealth growing faster than damage
& improved adaptation to weather/climate
The analysis is fully consistent with my recent review of normalization studies
Pielke, R. (2021). Economic ‘normalisation’ of disaster losses 1998–2020: a literature review and assessment. Environmental Hazards, 20(2), 93-111. doi.org/10.1080/174778…
I reviewed 54 normalization studies, most at the regional level and for specific phenomena & found little evidence for increasing normalized losses anywhere
This is great news!
Combine these analyses with evidence of decreasing vulnerability worldwide & across phenomena
Formetta, G., & Feyen, L. (2019). Empirical evidence of declining global vulnerability to climate-related hazards. Global Environmental Change, 57, 101920. doi.org/10.1016/j.gloe…
FF2019 show that the world has become comprehensively less vulnerable to weather and climate extremes ... it is not a close call or dependent upon tricky methods
This is great news!
Study after study report findings completely at odds with media, policy & celebrity scientists discussions of weather and climate extremes
I do wonder how long this huge gap between evidence & spin can last ... it's already lasted way longer than I'd have guessed!
Now you know
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The idea it was perfect under Democrats, as @afreedma & other advocacy journos suggest, is simply wrong
The most recent NCA was totally capture by interest groups and companies that would benefit from the report - UCS, TNC, EDF, CAP, Stripe etc
Below just a few of its authors
@afreedma The head of the NCA5 stated publicly that she would never cite our work in the assessment, even though our work is by far the most cited research on economic losses in the US associated with floods, hurricanes, tornadoes
🧵Let's take a quick look at the implications of the regulations that have followed from the 2009 EPA endangerment finding
According to @C2ES_org the 2021 GHG standards for light vehicles would reduce projected CO2 emissions by a cumulative 3.1 billion tons to 2050 c2es.org/content/regula…
Over the next 25 years the world would emit 925 gigatons of CO2 assuming constant 2025 emissions and ~690Gt assuming emissions are cut in half by 2050
That means that the projected impact of the regulations would reduce global emissions by 0.0003% (constant) & 0.0004% (halved)
The idea that CO2 can be regulated out of the economy is flawed
If the purpose of CO2 regulation is to create a shadow carbon tax, then it is a horribly inefficent way to do that
Once again, all this leads us back to Congress and the need for smart energy & climate policy
🧵
The percentage of a percentage trick is increasingly common & leads to massive confusion
Here a undetectable difference of 0.01 events per year per decade is presented as the difference between a 31% and 66.4% increase (in the *likelihood* of the event, not the event itself)
The resulting confusion is perfectly predictable
Here is a reporter (NPR) explaining completely incorrectly:
"The phenomenon has grown up to 66% since the mid-20th century"
False
Also, the numbers in the text and figure do not appear to match up
I asked Swain about this over at BlooSkeye
A Frankenstein dataset results from splicing together two time series found online
Below is an example for US hurricane damage 1900-2017
Data for 1980-2017 was replaced with a different time series in the green box
Upwards trend results (red ---)
Claim: Due to climate change!
The errors here are so obvious and consequential that it is baffling that the community does not quickly correct course
The IPCC AR6 cited a paper misusing the Frankenstein hurricane loss dataset to suggest that NOAA's gold standard hurricane "best track" dataset may be flawed
JFC - Using flawed economic loss data to suggest that direct measurements of hurricanes are in error!
We’ve reached the point where an IPCC author is openly rejecting the conclusions of the IPCC out of concern over how their political opposition is correctly interpreting the AR6
The integrity of the IPCC on extreme events is now under attack
The IPCC explains that a trend in a particular variable is DETECTED if it is outside internal variability and judged with >90% likelihood
For most (not all) metrics of extreme weather detection has not been achieved
That’s not me saying that, but IPCC AR6
The IPCC also assesses that for most (but not all) metrics of extreme weather the signal of a change in climate will not emerge from internal variability with high confidence (ie, >90%) by 2050 or 2100, even assuming the most extreme changes under RCP8.5