The Intergovernmental Panel on Climate Change method for calculating economic risk suffers from “an overly simplistic model of how the economy grows, too little attention to climate sensitivity, and too little attention to certain extreme risks,” Climate Progress reports. That’s according to a critique by Lord Nicholas Stern and Simon Dietz of the Grantham Research Institute on Climate Change. The result is that conventional analyses “grossly underestimate” the economic damage that will result from climate change, Stern says, barring rapid reductions in carbon pollution. (h/t to Frank Came, The Globe Group, for spotting this story)
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