{"id":3123,"date":"2024-06-26T17:50:22","date_gmt":"2024-06-26T15:50:22","guid":{"rendered":"https:\/\/www.rivistaeco.com\/?p=3123"},"modified":"2024-06-26T17:50:22","modified_gmt":"2024-06-26T15:50:22","slug":"who-foots-the-bill-for-climate-change","status":"publish","type":"post","link":"https:\/\/www.rivistaeco.com\/en\/2024\/06\/26\/who-foots-the-bill-for-climate-change\/","title":{"rendered":"Who foots the bill for climate change"},"content":{"rendered":"

Economic cost of mortality due to climate change by the end of the century (in relation to GDP) per country (in the map) and level of CO2 emissions per country as a percentage of global emissions (in the bubbles)<\/span><\/i>\u00a0<\/span><\/p>\n

\"\"
Map: cost of mortality in relation to GDP (in %). Negative values indicate a benefit. Moving towards red shows worse data\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Bubbles: CO2 emissions by country as a percentage of the global emissions (in %). Emissions increase with the size of the bubble or moving towards red Note: To calculate the economic cost of mortality due to climate change, the relationship between mortality rate and temperature changes over time and per country is considered, in a scenario assuming the implementation of initiatives to control emissions and thus an average climate change risk. The mortality rate estimate considering temperatures is then adjusted for the average income level of the affected population in each country to take into account adaptation and resilience to climate change. This result is called risk indicator. Finally, to obtain the cost, i.e. the monetisation of the mortality risk of climate change, the risk indicator is multiplied by the value of a statistical life (VSL, which calculates how much people are willing to pay to reduce the risk of dying).<\/figcaption><\/figure>\n

 <\/p>\n

Source: For the cost of mortality, Climate Impact Lab and Tamma Carleton et al. \u201cValuing the Global Mortality Consequences of Climate Change Accounting for Adaptation Costs and Benefits\u201d, The Quarterly Journal of Economics, 11\/2022. For the level of CO2 emissions: European Commission report \u201cGHG emissions of all world countries\u201d, 2023 (Edgar – Emissions Database for global atmospheric research).<\/span><\/p>\n

Climate change will have consequences for many aspects of human life: energy consumption, work choices, and mortality, to name but a few.\u00a0<\/span><\/p>\n

It will have a very high economic cost for the countries that pollute the most but also for those that pollute less, either because they have a lower level of industrialisation or because they have adopted greener policies.\u00a0<\/span><\/p>\n

However, if we focus on the mortality aspect, some studies have shown that in the future, the countries that will suffer the related consequences of climate change will be those that produce fewer emissions or are less capable of protecting themselves from rising temperatures.\u00a0<\/span><\/p>\n

The map shows that by the end of the century, some Middle Eastern and sub-Saharan countries will suffer more than others from the impact of climate change in terms of human lives, despite being among the areas that pollute the least. This is due not only to their location in climatically harsh geographical areas, but also to the fact that their populations have fewer tools available to cope with climate-related risks.\u00a0<\/span><\/p>\n

To quantify the effects, some economists have developed an indicator of the economic cost of mortality from climate change, which relates, for each country and over time, the mortality rate resulting from rising temperatures and income levels. Measuring the effects of climate change is indeed linked to the economic resources that countries can employ to counter it. The indicator is calculated in monetary terms and can thus be related to GDP (for more details on the indicator, see the note to the graph and the study indicated in the sources).<\/span><\/p>\n

Who pollutes and who suffers the consequences?<\/b><\/h3>\n

In the map, the areas that will suffer the most significant losses are indicated in shades of red, based on the level of risk. For example, the cost of climate change will exceed 15% of GDP in Niger, Djibouti and Burkina Faso. These are countries that contribute only marginally to carbon dioxide emissions, which are ultimately responsible for rising temperatures. On the other hand, they are located in particularly challenging climatic areas and have a low average income. Italy, too, will be affected by climate change, to the extent of 2.5% of GDP, compared to 0.84% of global emissions.<\/span><\/p>\n

Despite being the two countries responsible for nearly half of global carbon dioxide emissions, the mortality costs in China and the United States are limited: for China, it is slightly above 0% of GDP, indicating almost no risk; in the United States, it is even negative (-0.18% of GDP). In other words, the situation in the US will generally improve.\u00a0<\/span><\/p>\n

The costs and benefits are unevenly distributed among countries around the world. And this may explain why the ecological transition faces considerable political obstacles. However, even the most polluting countries will suffer considerable impacts – for example in terms of energy and labour costs: a sign that mitigation actions must be pursued for everyone\u2019s well-being.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Economic cost of mortality due to climate change by the end of the century (in relation to GDP) per country (in the map) and level […]<\/p>\n","protected":false},"author":5737,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"coauthors":[40],"class_list":["post-3123","post","type-post","status-publish","format-standard","hentry","category-non-categorizzato"],"acf":[],"yoast_head":"\nWho foots the bill for climate change - Rivista Eco<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rivistaeco.com\/en\/2024\/06\/26\/who-foots-the-bill-for-climate-change\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Who foots the bill for climate change - 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