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Summary and key findings insummary:"conflict of interest"
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  • The authors argue that the Stern Review's estimates of climate damages in 2100—0.4% of GDP for the US and 2.2% for the world—were too conservative. By removing assumptions of nearly costless adaptation, lowering the temperature threshold for catastrophes, and increasing the damage function exponent, the authors' revised PAGE2002 model suggests damages could reach 2.6% of GDP for the US and 10.8% for the world by 2100 (at the 83rd percentile). They further note that sector-specific calculations for the US suggest even higher economic losses than the aggregate PAGE2002 model provides.

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    Themes: climate change adaptation
    Stockholm Environment Institute

    Document type: Research paper

    Regions: United StatesWorld
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