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The Cost of Climate Change: Business-as-Usual Emissions Will Deliver Trillions in Market Losses


#1

The Cost of Climate Change: Business-as-Usual Emissions Will Deliver Trillions in Market Losses

Lauren McCauley, staff writer

Placing a dollar amount on the impact of unmitigated greenhouse gas emissions, the London School of Economics (LSE) on Monday released a new report warning that an average of $2.5 trillion of the world's financial assets are at risk if the Earth's temperature increases 2.5°C by 2100—and under a worst-case scenario, losses could reach as high as $24.2 trillion, obliterating the global econ


#2

2.5 Trillion, or 2.5 quadrazilliatirlian Dollars.
Meaningless, thoughtless, subservient, heartless number of a worthless currency.

We do not see each other, and we see the environment around us only as instruments that we can use for self empowerment, through the destruction of the things themselves.

The Value System, and the way the human mind sees things has to come to some reverence for the things that reflect its humanity back to it.

But you want to watch the Plum network like the select few, don't you?


#3

Economic losses will depend a lot on the extent of sea level rise. If it is 6 feet or more it would seem likely that a number of major metropolitan areas in the world could be swamped. In any event, staying under 2C is now a long shot and to even have a realistic chance at all the Paris agreement must be strengthened considerably in 2020 as the pledges at the moment would most likely result in a temperature increase of over 3C. This is why it is paramount that the country elect either Bernie Sanders or Hillary Clinton as the next present and not climate change deniers Donald Trump, Ted Cruz, Paul Ryan, etc. Both Sanders and Clinton are climate hawks and have excellent records on this issue going back over a decade at least. Besides economic losses noted here the US military says climate change could lead to wars over resources. And to make matters worse it the temperature goes beyond 4C a large percentage of animal and plant species could be wiped out forever.


#4

Exactly, petrodollars--what a worthless concept (conceit).


#6

Multiply those "climate changed" $trillions$ by ....??.... say a cool 50 - 75 $trillion$ AFTER ADDING IN nuclear waste & bombs - AND ADD the cleaning/removal/storage/security/cancer costs for a couple of hundred or more contaminated nuclear powerplant sites containing over 450 reactors total. OH! Let's not forget the nuke-powered propulsion systems. Oh, and the unknown illegal, still hot fissioning waste, dumped at sea. Oh, and the secret stashes. Banksters with their paid-off politicians, have doomed us. You damn corporations! Get a life and help us rid our planet of radionuclides that you okayed!


#8

Trying to measure everything in money.
This is why neoclassical economics is worthless.
The nature's ability to support life is priceless, these accountants do not understand that.

Peace.
ths.


#9

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#10

Hillary ... a climate Hawk????? Wow... that's a good one.. real funny...
Actually, it will be interesting to see what exactly Bernie really does about climate... because at this point... the only REAL ACTION... is to get rid of civilization.. .and THAT IS A VERY DRASTIC AND DIFFICULT ACTION... but that folks, is where we are... at this point... read about the methane hydrates/permafrost melt.... We could experience a 50 gigaton burst of methane anytime... per Natalia Shikova... Tim Garret... physicist... "Civilization is a Heat Engine.."... Paul Waddums... also methane researcher.... we are done... the methane release is imminent..


#11

The developing climate crisis has been vastly under-reported for a quarter of a century.

Last November, as the COP21 climate conference was about to
begin in Paris, nearly a million people took to the streets around the world. Al Gore was
at COP21 (as was I) and he said this is why world leaders absolutely had to
(and did indeed) reach agreement from all 195 countries.

Also at COP21 were climate activists calling for a much more rigorous
agreement.

There was not much in-depth media coverage of COP21, so I made a documentary
with a French film producer, which covers both the formal conference and the
activists, and then proposes a climate mobilization model that Bernie Sanders
is also calling for:


#12

Yes, money is an intangible human derived concept that Mother Earth does not recognise as she goes on to counter what those pesky humans have caused to be done by the technical systems they have created by using up some of her material resources..


#13

Common dreams apparently has failed to grasp that we now live in a Common Nightmare. As a species we have made a colossal blunder by altering our atmosphere and the damage will be paid in lives lost (all humans and most large complex organisms) and thinking that all the money in the universe will help is simply delusional. Sadly, there are courses of action that we could take which might avoid a mass extinction event but I see little talk of real solutions. Mostly what we get from media is a regurgitation of the problems and they don't even understand those well.

Talk of cost and future events only lulls people into complacency even if the aim is to stir action. Vested interests will, until they no longer can, continue BAU until the bus hits the canyon floor.

The failure to comprehend the exponential function and how it has led to a population that the planet cannot support at our level of consumption coupled with the amazing advancements in technological gadgets is what has brought us to this dilemma. We've known this for decades now and young people are still having babies like there is no tomorrow...bad news kids, this time you're right.


#14

I really don't understand this. Even if one accepts the odd concept of figuring out how much climate catastrophe will cost in dollars (an impossible task with any degree of accuracy that's at all useful) I see nothing about when this starts or stops. Of course, saying "continue BAU" means nothing unless it's specified how long it continues. If it continues until society loses the capacity to continue it, the breakdown of civilization into chaos and violence is very likely, and the extinction of humanity is a distinct possibility. What's the dollar cost of those expected to be?


#15

Gotta be a market for Climate Disaster Futures and other such derivatives. Collateralized Disaster Obligations.


#16

$24T? Chump Change.
Infinity times extinction? That's the real cost.
A healthy ecology? Priceless


#17

Agreed. The attempts to place a dollar value on earth systems and lifeforms as done in this case is absurd given that humans may be threatened with their very existence at some point in the near future. Find an economist who will put a price on your extinction and I'll show you a real fool.


#18

I always like to see dollar amounts. It makes so much more sense. Money means soo much to Mother Nature. If it wasnt for money, Mother Nature couldnt live. Phew, close one. And now for something completely different....
Alien 1 says to the other, 'What are they doing down there?'. Alien 2 says, 'They are busy pricing humanity.' Alien 1 snickers and says, 'Pricing humanity? Life has a price?'. The other says, 'Well, if they put a price on humanity, who would want to buy them?'


#19

It's not only absurd it's counterproductive. The frame that ecology is less important than economics is reinforced every time an ecological argument is framed in economic terms instead of terms of the only really important thing to humans--the emotional connection to life (in ourselves and other beings) and the intrinsic value of life itself, in great diversity and beauty. (both adaptive responses to the collaborative process of evolution.)

See the Frank Luntz thing on manipulating the actions of the US Chamber of Commerce to take far more radical right action than most of its members support? Consciously, intentionally destroying empathy certainly seems to be Frank's goal in life but at least some of the rest of us are still sane. Developing empathy, and empathy-strengthening institutions from infancy on are the ways to solve virtually every problem humanity and the rest of the world have.


#20

How does one assign a monetary value to a human life on this planet? I know I cannot. I agree with the school of thought that says, better for 100 guilty to go free than imprison a single innocent.
Where does it all end? If every life isn't as important and valuable as every other, then no system of justice has has any chance at all of making the world a more just place.