Bjorn Lomborg
We need to get smart about climate
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From the Fraser Institute
APPEARED IN THE FINANCIAL POST
By: Bjørn Lomborg
Canada’s chattering classes claim that climate change is one of the country’s pre-eminent threats. This is extraordinary. Canada is experiencing a productivity slowdown, the worst decline in living standards in 40 years, and growth rates that lag most developed economies. Geopolitical threats loom, the healthcare system is under stress and education is faltering. Yet the federal government has spent or committed more than $160 billion on climate initiatives since 2015, and is funneling $5.3 billion to help poor countries respond to climate change.
Like most nations, Canada faces tough decisions in coming decades. Resources spent on climate will not be not available for health, education, security or boosting prosperity.
Global warming is a real problem. Science has shown quite clearly that more CO₂, mostly from fossil fuel use, increases global temperatures. Climate economics has shown how this brings both problems and benefits (for instance, more deaths caused by heat, fewer by cold) but, overall, more problems than benefits. More CO₂ means higher social costs, so reducing CO₂ does have real benefits.
But climate policies also have costs. They force families and businesses to use more expensive energy, which slows economic growth. You might have heard otherwise but if the new ways really were cheaper, no regulations or mandates would be needed.
If climate change were treated like any other political issue, we would openly recognize these trade-offs and try to balance them to get the most climate benefits for the least cost, recognizing that climate policies need to compete against many other worthy policies.
But in two important ways the climate conversation has gone off the rails.
First, people say — wrongly — that global warming is an existential challenge, risking the end of mankind. Of course, if the world is about to end, it follows that any spending is justified. After all, if a world-obliterating meteor is hurtling towards us, we don’t ask about the costs of avoiding it.
Second, it is also often claimed — somewhat contradictorily — that the green transition will make energy cheaper, societies safer and everyone richer. In this “rainbows and unicorns” scenario, there are no trade-offs and we can afford climate policy and everything else.
Both claims are repeated ad nauseam by Canadian politicians and activists and spread by media hooked on selling climate catastrophes and green utopias. But both are quite untrue.
That is why I’m writing this series. I will outline how many of the most sensationalist, scary climate stories are misleading or wrong and ignore the best climate science. Being data-driven, I will show you this with the best peer-reviewed data and numbers.
So: Is climate change the world’s all-encompassing problem today? One way to test this is to look at extreme weather, which we constantly hear is having an ever-larger impact on our societies. But the data paint a very different picture (see chart).
We have good evidence for the number of people killed in climate-related disasters, i.e., floods, storms, droughts, and fires. (We’ll look at temperature deaths next week.) A century ago, such disasters routinely killed hundreds of thousands, even millions of people in a single disaster. On average, about half a million people a year died in such disasters. Since then, the death toll has declined precipitously. The last decade saw an average of fewer than 10,000 deaths per year, a decline of more than 97 per cent.
Of course, over the past century the world’s population has quadrupled, which means the risk per person has dropped even more, and is now down by more than 99 per cent. Why this great success story? Because richer, more resilient societies with better technology and forecasting are much better able to protect their citizens. That doesn’t mean there is no climate signal at all, but rather that technology and adaptation entirely swamp its impact.
In the same way, climate’s impact on overall human welfare is also quite small. In proportion to the total economy, the cost of climate-related disasters has been declining since 1990. Looking to the future, the best estimates of the total economic impact of climate change come from two major meta-studies by two of the most respected climate economists. Each shows that end-of-century GDP, instead of being 350 per cent higher, will only be 335 per cent higher.
“Only” becoming 335 per cent richer is a problem, to be sure, but not an existential threat. Despite that, as this series will show, many of the most draconian climate policy proposals so casually tossed around these days will do little to fix climate but could dramatically lower future growth and the opportunities of future generations.
We need to get smart on climate. This series will map out how.
Bjorn Lomborg
Climate change hasn’t set the world on fire
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Thank you for your continued interest . |
Bjorn Lomborg
Actions That Would Do More Good Than Wasting Trillions on Climate Change
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From Stossel TV
Bjorn Lomborg studies solutions for the world’s biggest problems. He says we should spend on the “best things first.”
I asked people on the street in New York how they’d spend money to help the world. Fixing climate change was the most common answer.
Lomborg agrees that climate change is a problem that may threaten our kids someday. But he also says, “if you live most other places on the planet, you’re worried about the fact that your kids might die from easily curable diseases tonight.”
Lomborg has a cheaper plan that would save millions of lives.
———— To get our new weekly video from Stossel TV, sign up here: https://www.johnstossel.com/#subscribe ————
After 40+ years of reporting, I now understand the importance of limited government and personal freedom.
——————————————
Libertarian journalist John Stossel created Stossel TV to explain liberty and free markets to young people. Prior to Stossel TV he hosted a show on Fox Business and co-anchored ABC’s primetime newsmagazine show, 20/20.
Stossel’s economic programs have been adapted into teaching kits by a non-profit organization, “Stossel in the Classroom.” High school teachers in American public schools now use the videos to help educate their students on economics and economic freedom. They are seen by more than 12 million students every year.
Stossel has received 19 Emmy Awards and has been honored five times for excellence in consumer reporting by the National Press Club. Other honors include the George Polk Award for Outstanding Local Reporting and the George Foster Peabody Award
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