There’s an emerging economic consensus — in parallel with the scientific consensus — that investing in mitigation and adaptation is good value for money.
In the “aggressive abatement” case (450 ppm), the mean “Net present value [NPV] of climate change impacts” is only $410 trillion — or $275 trillion with adaptation. So stabilizing at 450 ppm reduces NPV impacts by $615 to $830 trillion. But the abatement NPV cost is only $110 trillion — a 6-to-1 savings or better.
In English that means investing $1 in mitigation saves $6 in damages from unmitigated climate change. A similar conclusion to the Stern Review.
Read Romm’s full post here.