Bjørn Lomborg has a good piece up on how the latest IPCC report actually shows that the costs of global warming have been exaggerated by the media and by politicians enamored with green policies that ultimately hurt the world’s poor. An excerpt:
US President Barack Obama promised that policies to combat global warming would create five million new green jobs. The EU claimed that green energy would help “improve the EU’s security of energy supply.”
With the completion of the latest report by the United Nations Intergovernmental Panel on Climate Change (IPCC), we can now see that this narrative is mostly wrong. The first installment of the IPCC report showed that there is indeed a climate problem – emissions of greenhouse gases, especially CO₂, lead to higher temperatures, which will eventually become a net problem for the world. This result was highly publicized.
But the report also showed that global warming has dramatically slowed or entirely stopped in the last decade and a half. Almost all climate models are running far too hot, meaning that the real challenge of global warming has been exaggerated. Germany and other governments called for the reference to the slowdown to be deleted.
The second IPCC installment showed that the temperature rise that we are expected to see sometime around 2055-2080 will create a net cost of 0.2-2% of GDP – the equivalent of less than one year of recession. So, while the IPCC clearly establishes that global warming is a problem, the cost is obviously much less than that of the twentieth century’s two world wars and the Great Depression.
Again, not surprisingly, politicians tried to have this finding deleted. British officials found the peer-reviewed estimate “completely meaningless,” and, along with Belgium, Norway, Japan, and the US, wanted it rewritten or stricken. One academic speculated that governments possibly felt “a little embarrassed” that their previous exaggerated claims would be undercut by the UN.
The third installment of the IPCC report showed that strong climate policies would be more expensive than claimed as well – costing upwards of 4% of GDP in 2030, 6% in 2050, and 11% by 2100. And the real cost will likely be much higher, because these numbers assume smart policies, instantly enacted, with key technologies magically available.
And. . .
We live in a world where one in six deaths are caused by easily curable infectious diseases; one in eight deaths stem from air pollution, mostly from cooking indoors with dung and twigs; and billions of people live in abject poverty, with no electricity and little food. We ought never to have entertained the notion that the world’s greatest challenge could be to reduce temperature rises in our generation by a fraction of a degree.
The whole thing here.