A new analysis estimates the value of the damage caused by anticipated global warming being propagated by man-made climate change will approach $400 trillion unless something is done to stop it.
The study, conducted by Chris Hope of the Cambridge University’s Judge Business School, indicates that climate change and warming could result in thawing permafrost. Melting permafrost could release more CO2 (carbon dioxide) and CH4 (methane) into the atmosphere, adding to the dangerous cycle of greenhouse gasses being emitted. “Under the A1B scenario, CO2 and CH4 released from permafrost increases the mean net present value of the impacts of climate change by $43 trillion,” wrote Hope.
Hope estimates that it would cost approximately $40 trillion now to combat climate change, resulting in a savings of approximately $360 trillion.
Hope says the thawing permafrost could expose 1.7 trillion tons of carbon, twice as much carbon that’s in the atmosphere. A 2011 study noted that carbon released from thawing permafrost could increase the global average temperature by 0.4 degrees F to 1.5 degrees F by the year 2100.
For more on this story, visit ThinkProgress “Climate Action Avoids Over $300 Trillion In Damages At Super Low Cost”