Yale economists discuss economic growth in the face of climate ... - Yale News
Yale economists discuss economic growth in the face of climate change | YaleNews
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Yale economists discuss economic growth in the face of climate change
November 7, 2023
Economic research is uniquely able to account for tradeoffs inherent in raising global living standards while also meeting environmental targets. In this video, Yale economists Rohini Pande, Eli Fenichel, and Nicholas Ryan discuss the future of economic growth in the face of climate change and environmental losses — key themes at the Yale Climate, Environment & Economic Growth Conference 2023, Nov. 9–10, 2023, hosted by the Yale Economic Growth Center, the Yale Tobin Center for Economic Policy, and Yale School of the Environment, with support from Yale Planetary Solutions.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”