38 trillion dollars in damages each year: World economy already committed to income reduction of 19 % due to climate changeApril 17, 2024
Even if CO2 emissions were to be drastically cut down starting today, the world economy is already committed to an income reduction of 19% until 2050 due to climate change, a new study finds. These damages are six times larger than the mitigation costs needed to limit global warming to two degrees. Based on empirical data from more than 1,600 regions worldwide over the past 40 years, scientists assessed future impacts of changing climatic conditions on economic growth and their persistence.
Source: Potsdam Institute for Climate Impact Research (PIK)
https://www.sciencedaily.com/releases/2024/04/240417131138.htmSubstantial global cost of climate inactionApr. 17, 2024
Pioneering study reveals that limiting global warming to 1.5 degrees Celsius could reduce the global economic costs of climate change by two thirds. If warming continues to 3 degrees Celsius, global GDP will decrease by up to 10 percent – with the worst impacts in less developed countries.
Source: ETH Zurich,
https://www.sciencedaily.com/releases/2024/04/240417131103.htmSecuring competitiveness of energy-intensive industries through relocation: The pulling power of renewablesApril 24, 2024
Countries with limited potential for renewables could save up to 20 percent of costs for green steel and up to 40 percent for green chemicals from green hydrogen if they relocated their energy-intensive production and would import from countries where renewable energy is cheaper.
Source: Potsdam Institute for Climate Impact Research (PIK),
https://www.sciencedaily.com/releases/2024/04/240419131810.htmNew oceanic research provides clear evidence of a human "fingerprint" on climate change and shows that specific signals from human activities have altered the seasonal cycle amplitude of sea surface temperatures (SST).March 20, 2024
In 2023, the upper ocean heat content was the highest on record, leading to strong concern in the scientific community. The ocean absorbs roughly 90 percent of the Earth's excess heat from global warming and plays a vital role in regulating planetary climate systems.
The ocean is a vital carbon sink, absorbing 25 percent of the carbon dioxide that we produce by burning fossil fuels. However, the ability of the ocean to absorb CO2 is temperature dependent. As the ocean warms, it is critical that we understand how the ability of the oceans to absorb CO2 is affected.
Source: Woods Hole Oceanographic Institution,
https://www.sciencedaily.com/releases/2024/03/240320122520.htmFossil CO2 emissions at record high in 2023December 4, 2023
Global carbon emissions from fossil fuels have risen again in 2023 – reaching record levels, according to new research from the Global Carbon Project science team. The annual Global Carbon Budget projects fossil carbon dioxide (CO2 emissions of 36.8 billion tonnes in 2023, up 1.1% from 2022. About half of all CO2 emitted continues to be absorbed by land and ocean "sinks," with the rest remaining in the atmosphere where it causes climate change.
Source: University of Exeter,
https://www.sciencedaily.com/releases/2023/12/231204215905.htm