The UN’s climate goal of limiting warming to 1.5°C contradicts expert advice; significant costs compared to estimated benefits

TORONTO, July 27, 2021 (GLOBE NEWSWIRE) – A new analysis by the Fraser Institute, a Canadian independent non-partisan, shows that countries around the world are pursuing climate policies, and the economic and social costs of these policies Do more harm than good tanks.

At the 2021 Earth Day summit, Canada announced its intention to reduce emissions by 2030 to 40% to 45% below 2005 levels.This action is based on the 2018 statement of the United Nations Intergovernmental Panel on Climate Change (IPCC) 1.5°C temperature increase special report, Which shows that such measures will bring net benefits to society.

“The report itself clearly stated that it did not complete the cost-benefit analysis of limiting the temperature rise to 1.5°C,” said Professor Ross McKetrick, a senior researcher at the Fraser Institute and co-author of the report. Off-target: Economic literature does not support a 1.5°C climate ceiling.

“It believes that a 2°C increase will have a greater impact than a 1.5°C increase, but it does not say that policies that reach lower targets are worth the price.”

Crucially, the research cited by the IPCC in support of the 1.5°C target is based on selective investigations of research and has been criticized by economists as flawed.

Mainstream economic analysis shows that the cost of extreme policies related to achieving net zero emissions and 1.5°C targets far exceeds expected benefits, even the new Biden government’s estimate of the value of reducing greenhouse gas emissions.

“Studies by leading economists, including Nobel Prize winner William Nordhaus, have shown that such policy objectives fail the standard cost-benefit test,” said Robert Fraser Institute, senior researcher and co-author of the report. ·P·Murphy (Robert P. Murphy) said.

“In fact, Nordhaus’ work shows that if the government does not take any action on climate change, it will be better than trying to achieve the 1.5°C target, because the costs far exceed the estimated benefits.”

Media contact:

Ross McKitrick, Senior Researcher
Fraser Institute

Robert Murphy, Senior Researcher
Fraser Institute

To arrange a media interview or for more information, please contact:
Drue MacPherson, Fraser Institute
(604) 688-0221 extension. 721
drue.macpherson@fraserinstitute.org

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The Fraser Institute is an independent Canadian public policy research and education organization with offices in Vancouver, Calgary, Toronto, and Montreal, and is connected to a global network of think tanks in 87 countries/regions. Its mission is to improve the quality of life of Canadians, their families, and future generations by studying, measuring, and widely communicating the impact of government policies, entrepreneurship, and choices on their well-being. In order to protect the independence of the institute, it does not accept government funding or research contracts.access www.fraserinstitute.org



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