Climate Change and Economic Growth

Abstract

Grim descriptions of the long-term consequences of climate change have given the impression that the climate impacts from greenhouse gases threaten long-term economic growth. However, the impact of climate change on the global economy is likely to be quite small over the next 50 years. Severe impacts even by the end of the century are unlikely. The greatest threat that climate change poses to long-term economic growth is from potentially excessive near-term mitigation efforts.