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An economic analysis of climate change uses economic tools and models to calculate the magnitude and distribution of damages caused by climate change. It can also give guidance for the best policies for mitigation and adaptation to climate change from an economic perspective. There are many economic models and frameworks.
Anthropogenic climate change as a consequence of greenhouse gas emissions from the burning of fossil fuels and the rearing of livestock. The Stern Review on the Economics of Climate Change says "Climate change presents a unique challenge for economics: it is the greatest example of market failure we have ever seen." [24]
The climate crisis encompasses global warming and climate change, which have resulted from the excessive accumulation of greenhouse gases in the Earth's atmosphere. [8] It leads to rising temperatures, sea-level rise, and extreme weather events such as extreme precipitation, flooding, extreme heat events, severe storms, drought and more. [8]
The disparity in greenhouse gas emissions between rich and poor countries — and rich and poor people within countries — is just as extreme as economic inequality, a new report finds.
The effects of climate change vary in timing and location. Up until now the Arctic has warmed faster than most other regions due to climate change feedbacks. [165] Surface air temperatures over land have also increased at about twice the rate they do over the ocean, causing intense heat waves.
Climate change is driving extreme weather By all accounts, the last few years have been brutal for the climate — and for the humans and other living things within it. Around the globe, heat ...
Climate change adaptation is the process of adjusting to the effects of climate change. These can be both current or expected impacts. [ 44 ] Adaptation aims to moderate or avoid harm for people, and is usually done alongside climate change mitigation .
Economic damages due to climate change may be severe and there is a chance of disastrous consequences. [249] Severe impacts are expected in South-East Asia and sub-Saharan Africa , where most of the local inhabitants are dependent upon natural and agricultural resources.