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This report and brief provide improved estimates of the likely economic damages from climate change to the UK, highlighting where the greatest risks and need for adaptation are. These are translated into loss of socioeconomic welfare and reported as an equivalent loss of the UK’s GDP under two different policy scenarios – one in which current policies continue and another in which strong mitigation policies are put in place. Read more

Climate change impacts could cause damage to the UK equivalent to cutting the size of the economy by at least 7.4 per cent by the end of this century, unless there are stronger reductions in global greenhouse gas emissions, according to a report published today (30 May 2022) by the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science. Read more

Economic assessments of the potential future risks of climate change have been omitting or grossly underestimating many of the most serious consequences for lives and livelihoods because these risks are difficult to quantify precisely and lie outside of human experience. This policy insight identifies and draws attention to these 'missing risks' and discusses how populations might fare in light of their potential to adapt in the face of these risks. Read more

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