First, because emissions are lower, there is a reduced amount of (future) environmental harm, in the form
of climate change damages.
The work of saving nuclear by Environmental Progress will prevent $ 25 billion in economic damages
from climate change damage by 2025, based on the US EPA's social cost of carbon.
In contrast, EPA's estimate for the total gains from
avoided climate change damages as well as other factors (such as reduced macroeconomic volatility from reduced reliance on oil imports), might yield as little as $ 29 billion in the year 2040, in the scenario where the «social cost of carbon» is relatively low.
The social cost of carbon is the discounted monetary value of
future climate change damages due to additional CO2 emissions (for example, the costs of adverse agricultural effects, protecting against rising sea levels, health impacts, species loss, risks of extreme warming scenarios, and so on).
It also examines the relation between adaptation, mitigation and avoided
climate change damage in the light of decision - making on atmospheric GHG concentrations (Article 2 UNFCCC).
Another report by the German Institute of Economic Research concluded that «If climate policy measures are not introduced, global
climate change damages amounting to up to 20 trillion US dollars can be expected in the year 2100... The costs of an active climate protection policy implemented today would reach globally around 430 billion US dollars in 2050 and around 3 trillion US dollars in 2100.»
On the other hand, by increasing wealth, technological development and human capital, economic growth would broadly increase human well - being, and society's capacity to
reduce climate change damages via adaptation or mitigation.
In 2017, the California cities of San Francisco, Oakland, Santa Cruz, and Imperial Beach, as well as Santa Cruz county, Marin County, and San Mateo County attempted to sue oil majors
over climate change damages, citing a theory called «public nuisance.»
The innocent layperson may have thought that
looming climate change damages would be enough, but that isn't the case for the lower range of sensitivity estimates, again as EPA's own table shows.
She seems to have no concern for anything (such as the future of the planet
with climate change damage or the huge environmental and health problems caused by the coal industry) other than getting her way;
The social cost of carbon is a monetary value measuring the
alleged climate change damages from each ton of emitted carbon dioxide into the atmosphere.
And so the world continues to wait for ethical leadership from the United States on climate change at a time
when climate change damages are becoming more visible around the world.
Yet many nations have caused, and continue to cause
climate change damages while they have refused to limit their emissions to their fair share of safe global ghg emissions, compensate those who have been harmed, or provide adequate, predictable funding for adaptation.
Because the social cost of carbon increases each year, calculations of how
much climate change damages are expected because of the emissions from this coal should take into account when the coal is likely to be burned.
This Review assesses
climate change damage functions, which relate climate variables to economic losses, and how integrated information from impacts, adaptation and vulnerability research could be used to improve estimates of economic risk.
Rich Nations Have Moral Duty to Compensate Bangladesh for
Climate Change Damages See Ecocide Writ Large: NASA Photo Shows Humungous Philippine Coal Mine From Space
We are suffering
terrible climate change damage — consider the decline in run - off in the Murray Basin, rising temperatures, increasing frequency and violence in extreme weather events, increased ferocity of bushfires and length of the fire danger season, increasing acidity of the oceans and rise in sea levels, the decline in rainfall in the southern half of the country, the damage to the Great Barrier Reef, etc. — we should reduce our CO2 production levels for our own benefit.
The Virgin Islands, for example, bowed to fossil fuel company bullying and withdrew its
own climate change damages related subpoena.
It means that even if we completely ignored the fact that lower emissions will reduce
future climate change damage, it would still make society richer by implementing a 100 % revenue - neutral carbon tax swap.
Sen. Doug Ericksen sent a letter to the Washington Utilities and Transportation Commission (UTC) on Thursday asking them to reverse their decision directing Washington's three investor - owned electric utilities to include carbon emissions and
climate change damages in estimates of their coal - plant operation costs.
More on Coral Reef Bleachings Malaysia Closes World - Famous Diving Sites to Save Coral Reefs Coral Bleaching Creates a Vicious Cycle of Further Bleaching and Disease Coral Can Recover
from Climate Change Damage... In Marine Reserves Melanin May Keep Corals Alive Through Climate Change
If we don't act now,
the climate change damage caused to our Great Barrier Reef by 2030 will be irreversible.»
Although global warming is likely to change the distribution of species, deforestation will result in the loss of more dry forests than predicted by
climate change damage.
Speaking from an Australian perspective, a very astute and sobering comment was made on this very subject of the insurance industry and
climate change damage.
Local produce would be competitive if not for fossil fuel subsidies and the fact that
climate change damages and costs, due to fossil fuels, are also borne by the public.
Pawa attended the now infamous 2012 conference in La Jolla, California, where attendees strategized how to hold companies accountable for «
climate change damages.»
Research has shown that electric utilities could face serious financial repercussions if ever held liable for
the climate change damages incurred by their power plant emissions.
has shown that electric utilities could face serious financial repercussions if ever held liable for
the climate change damages incurred by their power plant emissions.
The elbowing for advantage between ExxonMobil and the California cities and counties suing the oil giant for billions of dollars in
climate change damages has spread to the U.S. Securities and Exchange Commission.
Nine cities and counties, from New York to San Francisco, have sued major fossil fuel companies, seeking compensation for
climate change damages.
And would it then be liable for 3.2 % of all future
climate change damages?»