Thursday, June 26, 2014

Economic Benefits of Combating Climate Change (IIED)

Scientists led by Professor Martin Parry (a former co-chair of the IPCC) in a 2013 report published by the International Institute for Environment and Development (IIED) calculated that the benefit of combating climate change amounts to $615 to $830 trillion.

This is the finding in the IIED report titled, Assessing the costs of adaptation to climate change: a review of the UNFCCC and other recent estimates. It concludes that the costs of costs will be even greater if we factor the full range of climate impacts. According to the study these costs could go as high as $1240 trillion with no adaptation. However, with appropriate adaptation efforts the costs are about $890 trillion.

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