US going net-zero will cost more than $11,300 per person per year in 2050 according to new Nature study
That is almost 500x as much as average American willing to pay
That won't end well
my comment in WSJ
wsj.com/articles/clima…
archive.ph/4K48e
nature.com/articles/s4155…
That is almost 500x as much as average American willing to pay
That won't end well
my comment in WSJ
wsj.com/articles/clima…
archive.ph/4K48e
nature.com/articles/s4155…
Compare the cost of US net-zero at 12+% GDP with the UN Climate Panel estimate of cost if we do *nothing* against climate change:
2.6% of GDP by 2100
We are currently doing too little, but doing too much is also dumb
ipcc.ch/sr15/
2.6% of GDP by 2100
We are currently doing too little, but doing too much is also dumb
ipcc.ch/sr15/
Even if entire US went net-zero today and stayed net-zero for the rest of the century
impact rather small, reducing temperature rise in 2100 by 0.3°F (0.16°C)
Because vast part of 21st century emissions come currently poor world
Using UN climate model live.magicc.org
impact rather small, reducing temperature rise in 2100 by 0.3°F (0.16°C)
Because vast part of 21st century emissions come currently poor world
Using UN climate model live.magicc.org
Even if entire rich world went net-zero today for rest of century
impact rather small, reducing temperature rise in 2100 by 0.96°F (0.5°C)
Because vast part of 21st century emissions come currently poor world
Using UN climate model live.magicc.org
impact rather small, reducing temperature rise in 2100 by 0.96°F (0.5°C)
Because vast part of 21st century emissions come currently poor world
Using UN climate model live.magicc.org
Here is a thread on the Nature paper
https://twitter.com/bjornlomborg/status/1431599612616445958
Climate real problem, but won't be solved by high-cost climate policies
Instead, dramatically ramp up investment in green R&D from $20 to $100bn/yr
Such innovation can drive price of low-CO₂ energy down below fossil fuels and help everyone switch
sciencedirect.com/science/articl…
Instead, dramatically ramp up investment in green R&D from $20 to $100bn/yr
Such innovation can drive price of low-CO₂ energy down below fossil fuels and help everyone switch
sciencedirect.com/science/articl…
For the comments suggesting that these costs are just investments to make us all much richer — no
The $11K/person cost is not price tags on solar panels etc
It is GDP loss: US GDP will be 11.9% lower in 2050 compared to no net-zero policy
Income trajectory permanently lower
The $11K/person cost is not price tags on solar panels etc
It is GDP loss: US GDP will be 11.9% lower in 2050 compared to no net-zero policy
Income trajectory permanently lower
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