Loss-making expenses for each year passed CO2 emissions According to a recent study by British economists, these rates are increasing by 2.2%. Every ton of CO2 emitted into the atmosphere due to human activities, It is now four times more harmful to the world than it was 10 years agoAccording to a study recently published by the University of Sussex School of Business.
The scientists who conducted this research confirm that the effects of global warming increase from 1.5°C to 2°C are much greater than the increase from 0.5°C to 1°C. As the study notes, this has significantly increased carbon costs overall. From agriculture to health.
The results were published on: Nature Climate ChangeIt is based on extensive analysis spanning forty years of research.
The ‘social cost of carbon’ is the sum of the costs and expenditures that the world’s economies have to bear due to CO2 emissions to the atmosphere and the damage it causes. These costs can be calculated by the impact of carbon in areas such as: human health and well-being, agricultural productivity, sea level rise causing property damage and destruction, desertificationAmong other things, changes in energy consumption and reduction in labor productivity.
Study urges economists to advocate for more ambitious CO2 taxes
Analyzing more than 5,900 estimates from 207 papers published before 2022, the research used innovative statistical methods such as meta-analysis and found that where economists tended to advocate a modest carbon tax two decades ago, they must now do so. we advocate much higher tax and stricter climate policy. The main reason for this is that estimates of climate change and its effects have become much more pessimistic over time.
Costs increase 2.2% every year
Professor Richard Tol, Professor of Economics at the University of Sussex School of Business, said: “The implications of these findings for climate policy are significant. The main idea is that the social cost of carbon increases by 2.2% each year. We’ve now found that every ton of carbon is four times more harmful than it was 10 years ago.
The study highlights the need Intensifying efforts to reduce greenhouse gas emissions and a reassessment of the appropriate carbon price.
“There is often a gap between the announced emissions targets and the policies implemented to achieve them. In addition to raising the social cost of carbon and the recommended carbon price, policy makers should also focus on: increase the real price of carbonTol added.
“Therefore, our work gives a guarantee Further strengthening of climate policy in Europe and North Americaand other countries, particularly China and India, to improve their climate strategies.”
As the researchers point out, there are several different estimates of the social cost of carbon, and they vary depending on different assumptions about future emissions. However, on average these forecasts have now become much more pessimistic As climate change becomes a reality.
Reference article: https://www.nature.com/articles/s41558-023-01680-x
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