The Economic Implications of Climate Change and Carbon Dioxide Emissions

A new study suggests that achieving the 2°C global warming target set out in the Paris Agreement is not economically reasonable without major changes. The study emphasizes the need to prioritize non-market factors such as human health and biodiversity loss in climate change goals. The cost of climate change, including mitigation efforts, is estimated to range from 46 to 230 trillion US dollars, while the cost of additional mitigation efforts is estimated to be 45 to 130 trillion US dollars. The study highlights the importance of integrating climate change, biodiversity, and health issues and accelerating technological innovations to reduce mitigation costs.