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Integrated perspective on translating biophysical to economic impacts of climate change

Piontek, Franziska, Drouet, Laurent, Emmerling, Johannes, Kompas, Tom, Méjean, Aurélie, Otto, Christian, Rising, James, Soergel, Bjoern, Taconet, Nicolas and Tavoni, Massimo (2021) Integrated perspective on translating biophysical to economic impacts of climate change. Nature Climate Change, 11 (7). 563 - 572. ISSN 1758-678X

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Identification Number: 10.1038/s41558-021-01065-y


Estimates of climate change’s economic impacts vary widely, depending on the applied methodology. This uncertainty is a barrier for policymakers seeking to quantify the benefits of mitigation. In this Perspective, we provide a comprehensive overview and categorization of the pathways and methods translating biophysical impacts into economic damages. We highlight the open question of the persistence of impacts as well as key methodological gaps, in particular the effect of including inequality and adaptation in the assessments. We discuss the need for intensifying interdisciplinary research, focusing on the uncertainty of econometric estimates of damages as well as identification of the most socioeconomically relevant types of impact. A structured model intercomparison related to economic impacts is noted as a crucial next step.

Item Type: Article
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Additional Information: © 2021 Springer Nature Limited
Divisions: Geography & Environment
Grantham Research Institute
Subjects: G Geography. Anthropology. Recreation > GE Environmental Sciences
Date Deposited: 07 Jul 2021 13:36
Last Modified: 12 Jul 2024 17:06

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