US has caused $10T worth of climate damage since 1990, research finds
5 hours ago
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- #climate-change
- #economic-damage
- The US has caused $10tn in global damages over the past three decades due to its carbon emissions.
- A quarter of this economic damage has affected the US itself, with the rest impacting other countries, especially poorer nations.
- China, the current largest emitter, has caused $9tn in GDP damage since 1990.
- US emissions have led to $500bn in economic damage to India and $330bn to Brazil.
- The study, published in Nature, quantifies 'loss and damage' from climate change.
- Developing countries seek financial aid from wealthier nations to cope with climate-related disasters.
- The research links GDP constraints to historical emissions but excludes broader climate consequences.
- Climate economist Gernot Wagner emphasizes the rapid accumulation of damages from past emissions.
- The US has resisted legal liability for climate damages, with policies under Trump exacerbating the issue.
- Experts note the study may underestimate the disproportionate impact on poorer countries.