Net economic benefits of well-below 2°C scenarios and associated uncertainties

Oxford Open Climate Change, 2022
Drouet, Laurent; Bosetti, Valentina; Tavoni, Massimo

Climate stabilization pathways reviewed by the Intergovernmental Panel on Climate Change depict the transformation challenges and opportunities of a low carbon world. The scenarios provide information about the transition, including its economic repercussions. However, these calculations do not account for the economic benefits of lowering global temperature; thus, only gross policy costs are reported and discussed. Here, we show how to combine low carbon pathways’ mitigation costs with the growing but complex literature quantifying the economic damages of climate change.