The cost of climate change ranges from US$45 to US$130 trillion

The economic viability of the climate change goals set out in the Paris Agreement depends on prioritizing non-market elements such as human health and biodiversity conservation, according to scitechdaily.

According to a recent study led by Dr. Taikan Aoki, former Vice President of the United Nations, a team of researchers from 23 institutions, including the University of Tokyo, the National Institute of Environmental Studies, and Kyoto University, conducted a cost-benefit analysis on climate change, integrating overlooked non-market aspects. previously reported such as biodiversity loss, and the implications for human health.

The team calculated the cost of climate change for various priority systems, estimating the total cost including mitigation between 2010 and 2099 to be between $46 and $230 trillion.

Climate change

According to a recent study led by Dr. Taikan Aoki, former Vice President of the United Nations, a team of researchers from 23 institutions, including the University of Tokyo, the National Institute of Environmental Studies, and Kyoto University, conducted a cost-benefit analysis on climate change, integrating overlooked non-market aspects. previously reported such as biodiversity loss, and the implications for human health.

The team calculated the cost of climate change for various priority systems, estimating the total cost including mitigation between 2010 and 2099 to be between $46 and $230 trillion.

Financial benefits

The results show that the financial benefits of mitigating climate change are often comparable to the cost of mitigation efforts. The research team estimates the cost of additional mitigation efforts at between $45 and $130 trillion, while the financial benefits of these mitigation efforts range from $23 to $145 trillion. They found That for the 2°C target to be economically feasible, there needs to be a greater focus on the future impact of biodiversity and health factors, arguing that these will become more pressing in the future.

The study shows that it is best to approach climate change in an integrated way while considering biodiversity and health issues along with economic factors. This is especially true when non-market values are taken into full account including health factors such as diarrheal diseases and malaria, and species decline on Earth. Like fish and insects.

“While the world's pursuit of climate goals is not currently on track, our future will depend on how much importance we place on risks such as large-scale irreversible events, as well as how we accept One reason for this is that the costs of mitigation often match or exceed the economic benefits of mitigating climate change, and we must give higher priority to non-monetary goods such as human health and biodiversity and accelerate technological innovations to reduce the cost of mitigation.”