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Are climate change alarmists actually causing more harm to the global economy than the effects of the changes in the actual climate?
One of the World’s largest providers of insurance to other insurance companies, Swiss Re, estimates that the effects of climate change can be expected to shave 11 percent to 14 percent off global economic output by 2050 compared with growth levels without climate change. That amounts to as much as $23 trillion in reduced annual global economic output worldwide as a result of climate change. What are the ways out? To eliminate the use of fossil fuels for energy and transportation ASAP and convert to renewable energy sources. This requires a substantial upfront investment but this cost pales in comparison with the cost of doing nothing. The Energy Transition Commission, a coalition of senior executives from 45 energy producers, financial institutions and environmental groups, said Wednesday that it is “technically and economically possible” to achieve net zero emissions by the middle of the century at an annual cost of about 1% to 1.5% of global GDP. This translates to $1 to $2 trillion a year which you can see from above, comparing to the cost of unmitigated climate change, is a bargain. Not only are renewable much cheaper than fossil fuel, making the transition in energy production and transportation will create millions of jobs, boosting economies worldwide. Making this transition ASAP is the sensible and necessary thing to do.
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The cost of doing business with climate change fears is very high. Not all fears are founded in fact, but all fears are based upon an over simplified story, a story of a great big scary future threat that will destroy our way of life. But I am not a climate change denier I'm a global warming believer who don't accept the scientific evidence that climate change is real, but we have had no problem adapting to changing temperatures for millions of years. My climate change fears arise from an over simplified picture of a story where an enemy (climate change) has become a good guy (human beings). People who are skeptical of the cause of climate change will always have an emotional reaction due to these simple emotions and I can understand the problem. But it is not helpful to scare yourself into thinking you will be left homeless, penniless.
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