Climate Change Economics

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The Economics of climate is critical to our understanding of how best to address this difficult issue. Economic analyses play a critical role in consideration of climate change policies. Identifying, assessing and communicating the implications of economic uncertainty and knowledge gaps remains a major challenge. Climate Change Economics can provide an important forum to consider fundamental economic issues that will enhance understanding and improve climate policy deliberations. The study projected that if the higher-temperature scenario prevails, climate change impacts on these 22 sectors could cost the U.S. $520 billion each year. If we can keep to 2.8? C, it would cost $224 billion less. Record-breaking temperatures, melting ice on land and sea, more-frequent coastal flooding, prolonged droughts, and damaging storms are just some of the intensifying risks communities face as the globe continues to warm. These changes will have vast implications for the health and welfare of every community around the world and the performance of every sector of the economy—from the amount of energy consumed to heat and cool homes and offices, to the ability to work and play outside, to the performance of entire economic sectors such as agriculture and tourism.