The research, published the journal Nature, is among the first to assess the economic impact of meeting the Paris climate goals. Data from the last 50 years shows clearly that when temperatures rise, GDP and other economic measures fall in most nations, due to impacts on factors including labour productivity, agricultural output and health.
“By the end of the century, we find the world will be about 3% wealthier if we actually achieve the 1.5C target relative to 2C target,” said Marshall Burke, assistant professor at Stanford University in the US, who led the new work. “In dollar terms, this represents about $30tn in cumulative benefits.”
The estimated cost of meeting the 1.5C target is about $0.5tn over the next 30 years,” he said: “So our evidence suggest the benefits of meeting the targets vastly outweigh the costs.”