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Thursday 17 Aug 2017 | 20:06 | SYDNEY
Thursday 17 Aug 2017 | 20:06 | SYDNEY

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18 December 2009 14:57

This is the central problem for advocates of rapid, aggressive emissions reductions. Despite the rhetoric, the best available estimate of the damage we face from unconstrained global warming is not “global destruction,” but is instead costs on the order of 3 percent of global GDP in a much wealthier world well over a hundred years from now. It should not, therefore, be surprising that formal efforts to weigh the near-term costs of emissions abatement against the long-term benefits from avoided global warming show few net benefits, even in theory.

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