Edward Conard

Top Ten New York Times Bestselling Author

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  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
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What do we know about climate change? My long-read QA with Steven Koonin

AI Summary. Global temperatures are projected to rise another 1.5 degrees by the end of this century, a change not expected to cause civilization to collapse. The Intergovernmental Panel on Climate Change indicates climate change has a relatively small economic impact compared with factors like demographics, technology, and trade, with damages including potential tipping points estimated to add 1–2% by century's end.

James Pethokoukis American Enterprise Institute
Date Posted:
January 4, 2022
Is Database:
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Climate impact assessment challenges doomsday scenarios: IPCC ranks economic effect below demographics/tech/trade. Evidence: Past 1° rise coincided with 4x population growth (2bn to 8bn), welfare gains.

Climate impact assessment challenges doomsday scenarios: IPCC ranks economic effect below demographics/tech/trade. Evidence:...

How large is climate change's projected economic impact this century?

Core argument: Steven Koonin notes that global temperatures are projected to rise another 1.5 degrees by the end of this century, a change he does not expect to cause civilization to collapse.

By the end of this century, global temperatures are projected to rise by another 1.5 degrees, a change that is not expected to cause civilization to collapse. Historical data shows that as the globe warmed by 1 degree in the 20th century, human welfare improved significantly, with the population increasing from 2bn to 8bn. The IPCC indicates that climate change has a relatively small impact on the economy compared to other factors like demographics, technology, and trade. Despite concerns, human society has shown adaptability, and the economic damages from rising temperatures, including potential tipping points, are estimated to add only 1-2% to economic damages by century's end. This suggests that while climate change poses challenges, it is not an existential threat, and the focus should be on balanced and informed policy-making.

Takeaways by Macro Roundup® AI

  1. Steven Koonin notes that global temperatures are projected to rise another 1.5 degrees by the end of this century, a change he does not expect to cause civilization to collapse.
  2. As the globe warmed by 1 degree during the 20th century, human welfare improved significantly and world population rose from 2bn to 8bn, according to Koonin's reading of the historical data.
  3. The IPCC indicates climate change has a relatively small economic impact compared with demographics, technology, and trade, with rising temperatures, including potential tipping points, estimated to add only 1–2% to economic damages by century's end.

James Pethokoukis, "What do we know about climate change? My long-read Q&A with Steven Koonin," American Enterprise Institute, December 30, 2021, https://www.aei.org/economics/what-do-we-know-about-climate-change-my-long-read-qa-with-steven-koonin/

What do we know about climate change? My long-read Q&A with Steven Koonin

Pethokoukis: Your book is titled “Unsettled” and the point is that climate science is not settled; science is never settled. But has the science grown stronger? Has it grown more certain since the early ’90s when Al Gore came out with his “Earth in the Balance” book, or maybe the early 2000s when he came out with “An Inconvenient Truth”? Do we know more and do you feel more confident in the science?

Koonin: Certainly given the passage of 30 years and spending of God knows how many tens of billions of dollars, of course we understand much more about the climate system now than we did when Al Gore wrote his book. Some things have become more certain. And at the same time, we’re starting to realize the limits of our current understanding.

What have we become more certain about and what have we become less certain about? And does the combination of both make you more concerned about the climate?

So for example, again, going back 30 years, there was still some doubt about what the global average temperature anomaly was doing. There were conflicting measurements on the ground. It’s gotten much better now. We know that the globe has warmed about 1.1 degrees since 1900. We also have good confidence now that the planet is gaining energy — that there’s more energy being absorbed from sunlight than the planet is radiating out into space. That’s a very tricky thing to measure. It’s a fraction of a percent effect, but nevertheless, we’re quite confident that that’s happening.

Are there things that people were really confident of 30 years ago or 15 years ago that we’ve become less confident of? 1) Are we becoming less confident about some things? 2) What are the big questions where we need a lot more research and we’re not sure at all?

I think one of the big questions is the natural variability of the climate system. Maybe not so much for the global temperature, but that in some ways is a theoretical construct of interest only to scientists. What’s really of interest is what’s happening with local weather, sea level rise, storms, floods, droughts, and so on. And there I think we’re starting to understand just how variable all of those things are on a multi-decade or century timescale.

Let’s put aside the worst projections. Should what we have learned make us more concerned than we were 20 years ago because either the potential outcomes are worse or we’re more certain about those outcomes?

I think we should be less concerned. And of course, your matter of concern depends a little bit on where you sit. And so I sit as a citizen of a developed world country and I’m not starved for energy. If I were somebody in China and India, I might have a different set of concerns, but my own concern has been tempered by realizing just how adaptable human society is. Again, if you look at the 20th century, as the globe warmed a degree, we saw the greatest improvement in human welfare ever as the population quadrupled from two billion to roughly eight billion people.

And if you look at the projections of what’s going to happen with the global temperature by the end of this century, we’ll see another one and a half degrees roughly, and that’s not going to make civilization fall apart. Come on, it’s not going to happen at all. And in fact, the IPCC says that. It’s says that compared to other forces, demographics, technology, regulation, trade and so on, climate is a relatively small impact on the economy.

You’re living in a developed country, and you were born in the 20th century. If you were going to be born early in the next century, would you be more concerned?

I think we should believe that our great-great-grandchildren will be every bit as adaptable and more clever and better off than we are. And again, let’s remember that those of us in the developed world are only 1.5 billion people. There are 6.5 billion people that are scrambling up the developmental ladder. They are going to need energy and the more of it that they can get, the better they’re going to be by the end of the century.

I want to read a quote from a paper by the late economist Martin Weitzman called “Some Basic Economics of Extreme Climate Change.” You’re probably familiar with it. And again, the listeners love when I read so I always try to read at least once during the podcast: "Climate change is characterized by deep structural uncertainty in the science coupled with an economic inability to evaluate meaningfully the welfare losses from high temperature changes. The probability of a disastrous collapse of planetary welfare from too much CO2 is non-negligible, even if this low probability is not objectively knowable."

Does that make sense to you? And if it does, does it suggest action?

There’s a famous quote by Lord Kelvin, I think: “If you can’t measure it, your knowledge is of the most meager kind.” And unless you can quantify those probabilities, it hardly makes sense to think about them. Of course, all kinds of crazy things can happen, but unless you can put a number on it and say, “There’s a one-in-10-to-the-fifth chance of something happening and it will cost this much,” you can’t sensibly think about it. All you have is emotion.

There are many crazy things that could happen (the proverbial asteroid, etc.) and we just get on with life. With respect to the climate system itself, there was a paper last summer in which four noted mainstream economists analyzed eight different tipping points, including the proverbial outcasting of the permafrost, the slowing down of the Atlantic circulation, the desertification of the Amazon, and so on. And it turns out that those add about 1 percent or 2 percent to the economic damages at the end of the century, which were already a couple percent for a couple of degrees temperature rise. So at least the best mainstream economic thinking is the economic damages of rising temperatures including tipping points are at the percent level, a nothing burger.

Do you think about climate science in a way that’s different from full-time climate scientists, or is it that what they say to each other is different than what ends up being filtered through the media and through non-experts?

It is the latter. Of course, you can’t generalize to everybody, but the conversations I’ve had about the science (as opposed to the emotion or the concern, if you like) are quite fine and no different than what I’ve written in the book. It’s when you start talking to the public or they start talking to the public either individually or institutionally that you start to get the exaggerations.

Well, I would assume that is because they feel the problem is serious enough that some action needs to be taken. But given that perhaps the most severe consequences would not happen for some time — it’s tough enough to get people to act about near-term problems, much less problems that could really escalate in 100 years — without a more severe or dystopian scenario, nothing will be done. I imagine that would be the reason. Is that your take?

For sure, I think it’s some of that. In other cases it’s prominence, it’s funding, and so on. I’ve given scientific advice in many other forums, fields, about things very different than climate. I think it’s advisory malpractice to be misportraying the certainties and uncertainties in the service of getting something to happen. Because, in fact, what you would like to happen depends upon where you sit.

I keep coming back again to the six-plus billion people who don’t have adequate energy. And if you’re going to force them to go to forms of energy that are less convenient or more expensive or less reliable, I would say that that’s immoral. And so I think our jobs as scientists are to represent the certainties and uncertainties as completely and as neutrally as we can and let the decision-makers, the political sphere, the private sector make the decisions.

Are the climate models better than they used to be?

I would say they are more sophisticated, but in terms of providing actionable information, they’re not much good at all. And again, this is not Steve talking. I can point you to papers written by mainstream climate modelers who say people trust their local predictions, storms, droughts, sea level rise, and so on, much more than vthey should.

We spoke a little bit about the temperature rise. What are some other impacts? What do we know about those? Whether some areas may be drier, maybe some wetter, melting ice caps... So what do we know about all the sort of spillover effects from that overall aggregate rise in temperature?

We look historically. What we’ve observed so far: There are no long-term trends in hurricanes or more generally tropical cyclones, as they’re called technically. And I think many people find that as a surprise. Over the last, roughly almost a century, we see no detectable trends in hurricanes. We do see for about the last 70 years some intensification of precipitation over the land. And we see that in the US rainfall has gotten more intense, but not necessarily more plentiful, in the Northeast, the upper Midwest, and the Northwest.

In terms of record-high temperatures in the US, they’re no more common today than they were 100 years ago. Yes, sea level rise globally has been accelerating for the last several decades, but it was also doing the same thing in the 1930s when, in fact, human influences were much smaller. So a lot of what we’re seeing can be put down to natural variability, or at least we need to show that it’s not natural variability. And that’s pretty hard without long-term and precise records.

Going forward, we predict the temperature will go up. And there are predictions, but it’s pretty difficult with a lot of uncertainty, about faster sea level rise, 10 percent more hurricanes, for example, some intensification of floods and droughts, but we haven’t seen it yet. And the temperature has already gone up by a degree. So it remains to be seen.

On whom should the burden of proof fall? Certainly some would say that we’re doing something unusual to the planet; we may not fully understand the impacts of this thing we’re doing, and we only have one planet. There are worst-case scenarios in the average temperature rise. So should the burden of proof be on the climatologists who are worried, or should it be on people who think it’s not as bad of a problem and we should be very cautious before acting?

I don’t think the scientists need to prove anything. The scientists just need to state what we know and what we don’t know. And your question is, what do we do about it? And that is very much, as I’ve emphasized in the book and other presentations, a values discussion. It depends upon development, intergenerational equity, North-South equity, and things of that sort. And of course, what can you really do to make a difference? And I think we’ve reached a stage in the climate and energy discussion where people who advocate doing something are starting to realize just how difficult it’s going to be to reduce or even slow the growth of human influences on the climate.

Has the “doing something” argument, and maybe you are suggesting it has, been changing? Is it something different now than it was 30 years ago or 10 years ago?

Oh yeah. I think there’s, at least among the experts, a better understanding of just how difficult it is to change the energy system or to build a reliable energy system in the developing world. I’ve been reading recently a seminal paper by a guy named Anthony Downs, who was writing in the ’70s. And he talked about the cycle of issue acceptance or issue prominence. Public issues, at least in the West, go through a series of five phases where at first it’s only among the experts, then suddenly the public realizes that there is a problem and great enthusiasm for solving it. Stage three is they realize just how difficult it’s going to be to solve it. Stage four, then stage five: It fades into the background.

I think we are well into stage three now, when you look at what happened in Glasgow where basically China and India and a couple of the other developing countries said, “We need energy and we’ve got the wolf at the door. We got to worry about that. And maybe a couple of generations from now we’ll worry about our emissions.” And that’s not an unreasonable attitude for them to take. We in the US, EU will have a different attitude, but unfortunately, the US is only 13 percent of global emissions. And even if we went to zero, it would be wiped out by the growth in the rest of the world within a decade.

In developed countries — Europe, United States, Japan, Korea — how strong is the push that we need to do something and that something needs to be living very different kinds of lives? Yes, we need to change the power mix (more solar and wind) but life as the West has lived it needs to be different.

Well, there are certainly some people who say that. But I think if you put that to a poll in the US or in Europe, the answer would be, “Hell no.” Downs has this wonderful quote; I’ll see if I can repeat it. That, “An environmental problem for the elites is just the common man catching up.” In the ’40s and ’50s people were worried about pollution from automobiles. Before that, it was only the elites who had automobiles and pollution was not an issue. It passed out of the periphery in the US, and suddenly everybody got concerned about air pollution. And so I think the greenhouse gas problem has got something of that flavor when you compare the different stances of the developed versus developing worlds.

Speaking of elites, where do you think the policy debate is right now in Washington? How much interest do you sense is there in policies that are about us changing our way of life versus policies that are about, “Well, let’s be worried about dirty power; we’ll try to create more clean power, but we’re going to create more power”?

I think the policies that the Biden administration has put out are too much too fast. There’s an optimal pace for decarbonization. If you do it too rapidly, you create a lot of disruption because energy is very important and is central to society. If you do it too slowly, you incur more risk from growing human influences. But what is being proposed — zero emissions from electrical power by 2035, the effective disappearance of all internal combustion engines being sold for vehicles — I think most people would say that that’s much too fast and it’s not going to happen anyway.

We can’t build a clean grid with today’s technology unless either storage technology gets a lot better to buffer wind and solar, or we deploy a lot more nuclear power than we have deployed, or we deploy a lot more carbon capture and storage. And neither the electrical storage with batteries nor nuclear power nor carbon capture nor storage can be deployed rapidly enough and economically enough to reach the 2035 goal.

So the politicians have just gotten out over their skis. Somebody needs to sit down and formulate an integrated plan for decarbonization that includes technology development, regulation, economics (people still need to make money by providing energy), and consumer or public perception. Nobody has done that yet. And I would think that that’s a necessary prerequisite if we’re going to achieve any significant emissions reductions in the US.

Do you think we do need to decarbonize?

I think on the longer time scale, whether we need to or not, we probably will. Coal is just disappearing. Natural gas is better than coal. Whether natural gas will disappear or not, I don’t know. But again, the “we” maybe is the US, but as I mentioned, this is a global issue. You’ve got to get China and India and the rest of the six billion people out there to decarbonize. And I don’t see great enthusiasm for that.

Some people might view any critique of the popular, non-scientific consensus as saying, “We should do nothing. It doesn’t matter how much carbon we pump into the atmosphere because it doesn’t make a difference.” Is that what you’re saying?

No, I wouldn’t say that. I think we do need to reduce our emissions, but I would do it on a centennial timescale. Look, this is just one more issue. And it’s not the existential threat that everybody believes it is — not everybody. If you read carefully the IPCC report that just came out in August, you don’t find the words “climate catastrophe,” “existential threat,” or “climate disaster” in it at all. You find “climate crisis “once in the report, and that refers to how the media have dumbed down the description rather than any scientific finding. So it’s not a crisis. It’s a problem to be dealt with in the most graceful way that we can.

Do you have thoughts about geoengineering or climate engineering as a kind of a break-the-glass option if we’re all wrong and things get bad fast?

Yeah, I just did geoengineering for my climate science class at NYU last night, so it’s fresh. Although, I wrote or convened the writing of a report back in 2007 that dealt with some aspect of geoengineering. So I’ve been thinking about this for 15 years or so. So there are two modes. One is that we suck carbon dioxide out of the atmosphere, and it’s hard to be against that. We could do that by planting more trees or by physical, chemical methods. Planting trees is kind of a no-brainer. Why not? And Congress is thinking about or it has already allocated money: the Trillion Trees Act as it’s called. But it takes a long time to grow the trees up and so on.

The other mode is to make the Earth a little bit more shiny to reflect a little bit more sunlight. You don’t need to reflect much more. The Earth right now reflects about 30 percent of the sunlight. If it were 31 percent, it would counteract almost all the warming effect of greenhouse gases produced by humans that we’ve seen so far. And there are schemes to do that. You could put particles up in the stratosphere. You could try to make particles over the ocean a little bit more common, things of that sort. I think it’s a subject that needs to be researched. And compared to 15 years ago, you can now talk about it in polite company, because people are starting to realize how hard it is to reduce emissions.

I think it needs to be researched. I think we need trials, experiments, not on a global scale, but locally. And then we would know whether or not we’ve got that as a tool to deploy, but doing the research is very different than actually putting it into practice. That is a very tricky situation having do with equity among nations, close monitoring of the effects if you started to do it, things of that sort. So I’m all for the research. I’m very much against deployment except in an extreme situation and with full discussion among all the world’s nations about doing that.

What is the argument you would make or the policy advice that you would give that might be persuasive to lawmakers, Democrats, folks on the left who are probably very concerned and are probably always being flooded with information from activists painting a very apocalyptic scenario? What is sort of the advice and message you would give those folks?

I would say the first thing to do is to cancel the climate crisis, namely to tell people there is no emergency here. This is a complex problem that has different facets and different solutions. So first of all, let us stand back and take a much better understanding of the problem. Climate literacy and energy literacy are woefully lacking among policymakers. And the second thing I would do is let us sit down and formulate a plan that will gracefully let us reduce emissions without disrupting the economy, employment, the way people live their lives as you mentioned, or the nation’s geopolitical standing and its dependence upon foreign sources of energy, which of course are coming back into prominence as this administration has cut back on domestic fossil fuel production.

First of all, declare there’s no crisis. Stand back, think it through, get everybody to agree on a path forward, and then implement that. I mean, that’s not so specific, but I think elements of those plans to get a little more specific will be the development of small modular nuclear reactors, a push to develop battery storage longer term, a push on fusion energy, which has seen some interesting progress in the last year or so, things of that sort. But is the world going to end in 10 years or 20 years? Absolutely not. Come on.

Steve, thanks for coming on the podcast.

Great to be talking with you.

Koonin, “…I think one of the big questions is the natural variability of the climate system. Maybe not so much for the global temperature, but that in some ways is a theoretical construct of interest only to scientists. What’s really of interest is what’s happening with local weather, sea level rise, storms, floods, droughts, and so on. And there I think we’re starting to understand just how variable all of those things are on a multi-decade or century timescale…. I think we should be less concerned. And of course, your matter of concern depends a little bit on where you sit. And so I sit as a citizen of a developed world country and I’m not starved for energy. If I were somebody in China and India, I might have a different set of concerns, but my own concern has been tempered by realizing just how adaptable human society is. Again, if you look at the 20th century, as the globe warmed a degree, we saw the greatest improvement in human welfare ever as the population quadrupled from two billion to roughly eight billion people. And if you look at the projections of what’s going to happen with the global temperature by the end of this century, we’ll see another one and a half degrees roughly, and that’s not going to make civilization fall apart.Come on, it’s not going to happen at all. And in fact, the IPCC says that. It’s says that compared to other forces, demographics, technology, regulation, trade and so on, climate is a relatively small impact on the economy….”

Ed Comment:“a very thoughtful and fairly short Q&A on climate change with the former Under Secretary for Science at the US Department of Energy under Barack Obama from 2009 to 2011. It answer most all the important questions, except the enormous problem of equity among nations and who should pay, which it only says is a big problem”

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Showing 20 database articles primarily about Global Warming

Three Tough Truths About Climate

AI Summary. The International Energy Agency's projection for annual carbon dioxide emissions in 2040 has fallen from 50bn tons to 30bn tons, though the world is expected to fall far short of the 1.5°C Paris goal, with warming likely between 2°C and 3°C by 2100. Global energy demand is projected to more than double by 2050.

Bill Gates GatesNotes
Date Posted:
October 28, 2025
Is Database:
Database
Is Important:
Important

Noting that over the past decade global CO2 emissions projected by the IEA have fallen by more than 40%, Bill Gates argues innovation will likely “give us the tools we need to meet the growing demand for energy without increasing carbon emissions.”

Have emissions forecasts improved even as climate goals go unmet?

Core argument: The International Energy Agency has cut its 2040 global carbon dioxide emissions forecast from 50 billion tons, projected a decade ago, to 30 billion tons, and projects 2050 emissions will be lower still.

Ten years ago, the International Energy Agency predicted that by 2040, the world would be emitting 50 billion tons of carbon dioxide every year. Now, just a decade later, the IEA’s forecast has dropped to 30 billion, and it’s projecting that 2050 emissions will be even lower. Even if the world takes only moderate action to curb climate change, the current consensus is that by 2100 the Earth’s average temperature will probably be between 2°C and 3°C higher than it was in 1850. That’s well above the 1.5°C goal that countries committed to at the Paris COP in 2015. In fact, between now and 2040, we are going to fall far short of the world’s climate goals. One reason is that the world’s demand for energy is going up—more than doubling by 2050. Although wind and solar have gotten cheaper and better, we don’t yet have all the tools we need to meet the growing demand for energy without increasing carbon emissions. But we will have the tools we need if we focus on innovation. With the right investments and policies in place, over the next ten years we will have new affordable zero-carbon technologies ready to roll out at scale. Add in the impact of the tools we already have, and by the middle of this century emissions will be lower and the gap between poor countries and rich countries will be greatly reduced.

Takeaways by Macro Roundup® AI

  1. The International Energy Agency has cut its 2040 global carbon dioxide emissions forecast from 50 billion tons, projected a decade ago, to 30 billion tons, and projects 2050 emissions will be lower still.
  2. The current consensus holds that even with moderate climate action, Earth's average temperature in 2100 will probably be 2–3°C above 1850 levels, well above the 1.5°C goal countries committed to at the 2015 Paris COP.
  3. Global energy demand is set to more than double by 2050, and despite wind and solar becoming cheaper and better, the tools to meet that demand without increasing carbon emissions do not yet all exist.

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  • Take the Under — Downward revisions to global population and GDP projections make climate change appear more tractable, the author argues, since the scenarios used to model emissions rely on socio-economic assumptions that are more extreme than real-world observations. With slower population and economic growth, even partial policy successes could bring emissions consistent with a 2C target within reach.
  • European Glaciers Have Shrunk 40% Since 2000, Study Says — A study by 35 research teams found that glaciers in the Alps and Pyrenees lost about 40% of their volume in less than a quarter of a century. Excluding the Antarctic and Greenland ice sheets, glaciers elsewhere in the world lost 5% of their volume over roughly the same period.
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World’s Oceans Remain Near Record Temperatures as CO2 Levels Rise

AI Summary. Global average sea surface temperature reached 20.79C in May, the second-highest May level on record, while atmospheric carbon dioxide peaked at a global mean of 426 parts per million, up from 423 a year earlier. Scientists estimate the ocean absorbs a quarter to 30% of emitted carbon dioxide and about 90% of excess heat.

Attracta Mooney and Steven Bernard Financial Times
Date Posted:
June 12, 2025
Is Database:
Database

The world’s ocean temperatures reached the second-highest level on record for May, capping an “alarming” two-year streak of rapid warming. Atmospheric concentrations of CO2 hit their highest seasonal peak since records began, a global mean of 426 ppm.

Are ocean temperatures staying near record highs as carbon dioxide rises?

Core argument: Atmospheric CO₂ peaked globally at a mean of 426 parts per million in March, up from 423 ppm a year earlier, and surpassed 430 ppm at the Mauna Loa Observatory in Hawaii.

The world’s ocean temperatures reached the second-highest level on record for May, capping an “alarming” two-year streak of rapid warming and fueling concerns about the seas’ ability to absorb rising levels of carbon dioxide. The EU’s Earth observation service Copernicus said the global average sea surface temperature in May was 20.79C, 0.14C below the record in the same month in 2024. The level of CO₂ in the atmosphere peaked globally at the mean of 426 parts per million in March, up from 423 ppm a year ago, and surpassed 430 ppm at the Mauna Loa Observatory in Hawaii. Scientists estimate the ocean has absorbed between a quarter and about 30% of carbon dioxide released into the atmosphere and about 90% of excess heat, helping to keep temperatures on land cooler. But Michael Meredith, a scientist at the British Antarctic Survey in Cambridge, warned the ocean “may lose some of its capacity to buffer us against the worst extremes of climate change” by absorbing less warmth or carbon than previously. “We’re seeing stronger and stronger bursts of ocean warming — marine heatwaves — that are pushing us past records at an alarming rate.”

Takeaways by Macro Roundup® AI

  1. Atmospheric CO₂ peaked globally at a mean of 426 parts per million in March, up from 423 ppm a year earlier, and surpassed 430 ppm at the Mauna Loa Observatory in Hawaii.
  2. Scientists estimate the ocean has absorbed between a quarter and about 30% of carbon dioxide released into the atmosphere and about 90% of excess heat, and Michael Meredith of the British Antarctic Survey warned it may lose some of that buffering capacity.

Related Articles:

  • Long-term Surface Impact of Hunga Tonga-Hunga Ha’apai-like Stratospheric Water Vapor Injection — A volcanic eruption that injected large amounts of water vapor — a strong greenhouse gas — into the stratosphere is estimated to have raised surface temperatures by more than 1.5°C across large regions for several years, while cooling some areas by close to 1°C. The authors suggest a possible link to tropical Pacific sea surface temperatures that warrants further investigation.
  • Abrupt Reduction In Shipping Emission As An Inadvertent Geoengineering Termination Shock Produces Substantial Radiative Warming — Fuel regulations that abruptly cut sulfur dioxide emissions from international shipping by about 80% created an inadvertent geoengineering termination shock, and the authors estimate the resulting radiative forcing over the global ocean could double or more the rate of warming in the 2020s relative to the rate since 1980.
  • Take the Under — Downward revisions to global population and GDP projections make climate change appear more tractable, the author argues, since the scenarios used to model emissions rely on socio-economic assumptions that are more extreme than real-world observations. With slower population and economic growth, even partial policy successes could bring emissions consistent with a 2C target within reach.
  • Global Warming
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China’s Soaring Emissions Are Upending Climate Politics

AI Summary. China has passed the European Union to become the second-largest source of cumulative historical greenhouse gas emissions, behind the United States. Projections based on the International Energy Agency's "stated policies scenario," which tracks nations' current climate actions, show China may nearly catch up with the US.

Brad Plumer and Mira Rojanasakul New York Times
Date Posted:
November 19, 2024
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China’s cumulative carbon emissions since 1850 have outpaced Europe’s but are still 60% of the US’s level. China has been the world’s #1 carbon emitter since 2006.

Is China now the second-largest source of historical emissions?

Core argument: China has passed the European Union's 27 current member states to become the world's second-largest source of cumulative greenhouse gas emissions.

The United States has burned more fossil fuels than anywhere else in history. Europe has long ranked No. 2 in total historical greenhouse gas emissions. Until now. And projections show that China may nearly catch up with the United States. Data for carbon dioxide-equivalent emissions from 1850 to 2023 is from Jones et al (2024); data for 2024 from Carbon Brief; projected data for 2025 to 2100 is based on the International Energy Agency’s “stated policies scenario” tracking nations’ climate actions. European Union totals were calculated for the current 27 member countries. Lines show cumulative territorial CO2 emissions from fossil fuels, cement, land use, land use change and forestry.

Takeaways by Macro Roundup® AI

  1. China has passed the European Union's 27 current member states to become the world's second-largest source of cumulative greenhouse gas emissions.
  2. Projections based on the International Energy Agency's "stated policies scenario" show China may nearly catch up with the United States, which has burned more fossil fuels than anywhere else in history.
  3. The emissions series combines carbon dioxide-equivalent data from Jones et al (2024) for 1850–2023, Carbon Brief for 2024, and IEA-based projections for 2025–2100, covering fossil fuels, cement, and land use, land use change and forestry.

Related Articles:

  • Halfway Between Kyoto and 2050: Zero Carbon Is A Highly Unlikely Outcome — Fossil fuels' share of global primary energy fell only from about 86% to 82% over 25 years, while absolute fossil fuel consumption rose nearly 55%. Emission cuts in the EU (-23%) and US (-9%) were outweighed by China's 3.3x and India's 3x increases, with energy-sector carbon dioxide emissions up 54%.
  • Take the Under — Downward revisions to global population and GDP projections make climate change appear more tractable, the author argues, since the scenarios used to model emissions rely on socio-economic assumptions that are more extreme than real-world observations. With slower population and economic growth, even partial policy successes could bring emissions consistent with a 2C target within reach.
  • The Energy Transition Will Be Much Cheaper Than You Think — Economic models have overestimated adoption of carbon capture and storage while underestimating cost declines in solar panels and lithium batteries. Researchers modelling solar, wind, batteries and hydrogen electrolysers under "Wright's law" — where each doubling of production cuts unit costs by a fixed percentage — estimate emissions fall fast enough to meet the 1.5°C target at minimal cost.
  • Global Warming
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The Energy Transition Will Be Much Cheaper Than You Think

AI Summary. Economic models have overestimated adoption of carbon capture and storage while underestimating cost declines in solar panels and lithium batteries. Researchers modelling solar, wind, batteries and hydrogen electrolysers under "Wright's law" — where each doubling of production cuts unit costs by a fixed percentage — estimate emissions fall fast enough to meet the 1.5°C target at minimal cost.

Economist Staff The Economist
Date Posted:
November 15, 2024
Is Database:
Database
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Important

Limiting global warming to the 2° target might be more affordable than projected due to slower economic growth and the ongoing decline in the cost of solar power, wind power, and lithium batteries as production volumes increase.

Will falling clean energy costs make cutting emissions far cheaper?

Core argument: Rupert Way of the University of Cambridge and co-authors model an energy system in which solar power, wind power, lithium battery and hydrogen electrolyser costs follow "Wright's law," a scenario in which emissions fall fast enough to meet the 1.5°C target at minimal cost.

Economic modellers also have a poor record of predicting technological advances. They overestimate the take-up of some technologies (such as carbon capture and storage, whereby carbon dioxide is sucked out of the smokestacks of power stations and factories and stashed away safely underground) and severely underestimate the falling costs of others, most notably solar panels and lithium batteries. Rupert Way of the University of Cambridge and others have modelled an energy system in which the cost of solar power, wind power, lithium batteries and hydrogen electrolysers falls according to “Wright’s law”. This holds that every doubling of production sees unit costs fall by a fixed percentage, with that percentage derived from past experience. In this scenario emissions fall so rapidly that even the 1.5°C target can be met at minimal cost.

Takeaways by Macro Roundup® AI

  1. Rupert Way of the University of Cambridge and co-authors model an energy system in which solar power, wind power, lithium battery and hydrogen electrolyser costs follow "Wright's law," a scenario in which emissions fall fast enough to meet the 1.5°C target at minimal cost.
  2. Wright's law holds that every doubling of production cuts unit costs by a fixed percentage, with that percentage derived from past experience.
  3. Economic modellers have overestimated take-up of carbon capture and storage while severely underestimating the falling costs of solar panels and lithium batteries.

Related Articles:

  • Take the Under — Downward revisions to global population and GDP projections make climate change appear more tractable, the author argues, since the scenarios used to model emissions rely on socio-economic assumptions that are more extreme than real-world observations. With slower population and economic growth, even partial policy successes could bring emissions consistent with a 2C target within reach.
  • Global Clean Energy Spending Surges to $1.8 Trillion. It’s Not Enough — Global spending on the clean-energy transition rose 17% to a record $1.8tn, covering renewable power, electric vehicles, hydrogen production and other technologies, with total funding reaching about $2.8tn including supply chains and $900bn in financing. BloombergNEF reports this remains short of a net-zero emissions trajectory.
  • The Dangerous Effects Of Rising Sea Temperatures — The world's oceans have absorbed 90% of excess heat and about a quarter of human-caused carbon dioxide emissions during the industrial era, and scientists are investigating what drove an anomalous rise in sea temperatures and whether seas will cool again. Researchers caution there is no guarantee oceans will keep absorbing heat at the same rate.
  • Global Warming
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Take the Under

AI Summary. Downward revisions to global population and GDP projections make climate change appear more tractable, the author argues, since the scenarios used to model emissions rely on socio-economic assumptions that are more extreme than real-world observations. With slower population and economic growth, even partial policy successes could bring emissions consistent with a 2C target within reach.

Roger Pielke Jr. The Honest Broker
Date Posted:
October 31, 2024
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Database
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Important

.@RogerPielkeJr argues that more realistic projections of global population and GDP growth suggest that “even partial future policy successes could more easily bring into view future emissions consistent with a 2C temperature target.”

Do lower population and GDP projections make climate change more tractable?

Core argument: Downward revisions to global population and GDP projections make the challenge of climate change appear more tractable, according to the author, who argues the "assumption space" behind emissions scenarios should shift away from extreme socio-economic assumptions toward scenarios consistent with real-world observations.

Updated understandings of population and GDP suggest that, at a minimum, the “assumption space” used to generate scenarios needs to reorient away from extreme socio-economic assumptions and towards more realistic socio-economic scenarios consistent with observations of the real world. Every time global population GDP projections are revised down, the challenge of climate change appears that much more tractable. Of course, peak population and slower economic growth bring with them considerable societal and policy challenges of their own. “Current policy” projections are based on a very conservative set of assumptions — who thinks there will be no new climate and energy policies? — and many countries have committed to accelerating decarbonization. Conditional on slower-than-projected population and/or GDP growth, that means that even partial future policy successes could more easily bring into view future emissions consistent with a 2C temperature target. Basing our expectations on the latest understandings of population and GDP changes is thus essential for a clear-eyed view of climate and energy challenges.

Takeaways by Macro Roundup® AI

  1. Downward revisions to global population and GDP projections make the challenge of climate change appear more tractable, according to the author, who argues the "assumption space" behind emissions scenarios should shift away from extreme socio-economic assumptions toward scenarios consistent with real-world observations.
  2. "Current policy" emissions projections rest on the conservative assumption that no new climate and energy policies will be adopted, even though many countries have committed to accelerating decarbonization.
  3. Conditional on slower-than-projected population and GDP growth, even partial future policy successes could more easily bring future emissions consistent with a 2C temperature target into view, though peak population and slower growth carry their own societal and policy challenges.

Related Articles:

  • The Wealth of Working Nations — Because of population aging, growth in GDP per capita and GDP per working-age adult have diverged across advanced economies; from 1998 to 2019 Japan's accumulated growth per working-age adult was 31.9% versus 29.5% in the US. The authors find a standard neoclassical growth model calibrated to each country's working-age population tracks output per working-age adult in most economies.
  • The Age of Depopulation: Surviving a World Gone Gray — The United States remains the main outlier among developed countries resisting depopulation, with fertility of just over 1.6 births per woman — high for a rich country but below the 2.1 replacement threshold — plus steady immigration. The Census Bureau projects the U.S. population will peak around 2080 and decline continuously thereafter.
  • The Dangerous Effects Of Rising Sea Temperatures — The world's oceans have absorbed 90% of excess heat and about a quarter of human-caused carbon dioxide emissions during the industrial era, and scientists are investigating what drove an anomalous rise in sea temperatures and whether seas will cool again. Researchers caution there is no guarantee oceans will keep absorbing heat at the same rate.
  • Global Warming
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The Dangerous Effects Of Rising Sea Temperatures

AI Summary. The world's oceans have absorbed 90% of excess heat and about a quarter of human-caused carbon dioxide emissions during the industrial era, and scientists are investigating what drove an anomalous rise in sea temperatures and whether seas will cool again. Researchers caution there is no guarantee oceans will keep absorbing heat at the same rate.

Attracta Mooney, Steven Bernard and Jana Tauschinski Financial Times
Date Posted:
July 24, 2024
Is Database:
Database
Is Important:
Important

Oceans have absorbed 90% of the heat from human-caused carbon dioxide emitted during the industrial era, but some scientists are concerned that oceans may be reaching their limits in protecting the planet against the worst extremes of climate change.

Will the oceans keep absorbing most of the world's excess heat?

Core argument: The world's oceans have absorbed 90% of excess heat and about a quarter of human-caused carbon dioxide emitted during the industrial era, heat that did not go into the land surface, atmosphere or ice caps.

Scientists are now trying to understand what has driven the rapid anomalous rise in sea temperatures, why that heat has lingered and whether the world’s seas will cool again. At the heart of these questions is a concern that the oceans may be reaching their limits in the vital role they play in protecting the planet against the worst extremes of climate change. They have absorbed 90% of excess heat and about a quarter of human-caused carbon dioxide emitted during the industrial era. “All that heat that’s going into the ocean is not going into the land surface or into the atmosphere, or into the ice caps,” says Michael Meredith, oceanographer and science leader at the British Antarctic Survey. “The ocean has been doing this huge climate favour for us for decades.” But he adds there is no guarantee it will continue doing so at the same rate. “If this does slow in future, the consequences will be like we saw in 2023 [the hottest year on record] but much more so.”

Takeaways by Macro Roundup® AI

  1. The world's oceans have absorbed 90% of excess heat and about a quarter of human-caused carbon dioxide emitted during the industrial era, heat that did not go into the land surface, atmosphere or ice caps.
  2. Scientists are investigating what drove the rapid anomalous rise in sea temperatures, why that heat has lingered and whether the seas will cool again, amid concern that the oceans may be reaching the limits of their protective role.

Related Articles:

  • Long-term Surface Impact of Hunga Tonga-Hunga Ha’apai-like Stratospheric Water Vapor Injection — A volcanic eruption that injected large amounts of water vapor — a strong greenhouse gas — into the stratosphere is estimated to have raised surface temperatures by more than 1.5°C across large regions for several years, while cooling some areas by close to 1°C. The authors suggest a possible link to tropical Pacific sea surface temperatures that warrants further investigation.
  • Heating Waters Force Change in Industries That Depend on the Ocean — Nearly half the world's oceans are experiencing a marine heatwave, defined as warmer than 90% of previous temperature observations for the same date. Beyond climate change and the El Niño/La Niña cycle, researchers are investigating whether rules cutting ships' sulfur particle pollution and water vapor from an underwater volcanic eruption are contributing, with the magnitude disputed.
  • What This Year’s ‘Astonishing’ Ocean Heat Means for the Planet — The planet's average sea surface temperature reached a record high and the ocean has stayed exceptionally warm, with North Atlantic readings running more than 2°F above typical levels and one buoy recording 101.1°F, possibly a world record. Scientists expect warm ocean conditions to continue as El Niño intensifies.
  • Global Warming
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