In the survey, the results of which were presented with the study on "Gauging Economic Consensus on Climate Change" prepared by the New York University Policy Institute, the answers of 738 economists living in different countries and who are experts in climate change were evaluated. According to the study, economists' concerns about the costs of climate change to the world increased since the last survey conducted in 2015. Approximately 74% of climate economists surveyed state that the world must take "urgent and drastic steps" to combat climate change. It is emphasized that there is a very strong consensus on the economic importance of climate change.
According to Derek Sylvan, the institute's strategy director and co-author of the survey, developing countries will be most affected by the increased vulnerability to global warming. Besides; Sylvan states that as a result of the disruption of the global supply chain with climate change, costs will increase on a global scale.
70% of the participants believe that global warming will further increase inequality in countries. 89% of them stated that climate change will widen the gap between the group at the top and bottom of the income distribution. 76% of the participants predicted that climate change will negatively affect the growth rate of the global economy. According to a consensus in the survey, the economic damage projected due to climate change is estimated to reach $ 1.7 trillion a year by 2025 and around $ 30 trillion a year by 2075 if the current warming trend continues.
About 70% of economists stressed that the benefits of achieving the net zero emission target by the middle of the century will outweigh the costs required to achieve that target. 65% of the participants estimated that the costs of other clean energy technologies will decrease as wind and solar energy technologies.
Click for the whole study.
https://policyintegrity.org/files/publications/Economic_Consensus_on_Climate.pdf
