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Thursday, September 19, 2013

Study: Failure to tackle climate disruption now risks global near-depression

A new study from scientists from Potsdam Institute for Climate Research, University of Melbourne, The Technical University of Berlin, and the Mercator Research Institute, published in Environmental Research Letters, warns that delaying CO2 emission reduction policies to confront global climate disruption would make emission reduction efforts more expensive and more than triple short-term mitigation costs, leading to severe economic consequences. 

The study, Economic Mitigation Challenges: How Further Delay Closes the Door for Achieving Climate Targets, estimates a 2% reduction in economic growth if a global agreement on an effective climate regime is reached by 2015.  But if countries delay til 2030 in adopting comprehensive emissions reductions and fail to act to ensure “full availability” of climate-saving technologies, a 7% reduction in global economic growth is likely.  

Lead author of the study Gunnar Luderer of Potsdam Institute said that those impacts “are comparable to the costs of the financial crisis the world just experienced." 

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