The economic damages of climate change are 6 times more than previously believed

Downplaying the economic costs of global warming has allowed actions to reduce CO₂ emissions and slow the climate crisis to be delayed. Adrien Bilal and Diego Kaenzig developed a calculation model that is more rigorous and accurate than the previous ones, and they claim that the economic damage caused by climate change is six times greater than previously thought. There is less time to act.

In 2018, American economist William Nordhaus won the Nobel Prize in Economic Sciences for his integrated dynamic model of climate economics. He was the first to incorporate the impacts of global warming into the global economy and his approach has been celebrated for its innovations. However, some climate scientists believe it fails to capture the devastating impacts this crisis will have on the environment, human well-being and the economy.

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