Ok, I don’t really have the time to look into this in detail, this just sounds very much like an underestimate (especially as economic predictions usually don’t include tipping points, cascading risks, and include poorly tail risks).
For instance, at −5°C compared to preindustrial during the last ice age, the North of America and Europe (including Canada and Scotland) were under a 3km thick ice sheet. I fear current climate change damage models would count this as a 4% GDP loss.
Ok, I don’t really have the time to look into this in detail, this just sounds very much like an underestimate (especially as economic predictions usually don’t include tipping points, cascading risks, and include poorly tail risks).
For instance, at −5°C compared to preindustrial during the last ice age, the North of America and Europe (including Canada and Scotland) were under a 3km thick ice sheet. I fear current climate change damage models would count this as a 4% GDP loss.