Stanford Research Estimates $30 Trillion Benefit with 1.5℃ Cap on Climate Change

Published on June 1, 2018

Percentage gain in GDP per capita in 2100 from achieving 1.5℃ global warming instead of 2℃. (Image credit: Marshall Burke)

 

Stanford economist Marshall Burke and climate scientist Noah Diffenbaugh issued a report demonstrating a potential $30 trillion economic benefit through the year 2100 by adhering to a 1.5℃ global warming target (vs. 2℃).  The study was published in Nature and is one of the first to quantify the economic benefits of the U.N. Paris Agreement.

“Achieving the more ambitious Paris goals is highly likely to benefit most countries — and the global economy overall — by avoiding more severe economic damage,” said senior author Noah Diffenbaugh, a professor at Stanford University’s School of Earth.

Their research, funded by the Erol Foundation, is poised to inform the global discussion around climate change and has received widespread coverage in both scientific and mainstream media:

  1. Nature: Large potential reduction in economic damages under UN mitigation targets
  2. The Hill: Paris Agreement goals could save trillions in avoided climate damages
  3. USA Today: We’re keeping our Paris climate change commitments and our economies are booming: Governors
  4. CBS News (video): Following climate accord goals could save trillions
  5. Reuters: Strict curbs on global warming would buoy world economy: study
  6. Breitbart: 1.5 C cap on warming could save global economy trillions