Climate change represents the most salient risk we face, and we are already getting a glimpse of the costs. At one time, some Americans even hoped that climate change might benefit them. By assigning little weight — far too little weight — to very adverse outcomes, these studies systematically bias the analysis against doing anything. Whereas a below-threshold level of climate change might not affect the risk of frost or drought, a higher level increases disproportionately the risk of these extreme events. It is precisely when the consequences of climate change are large that we are least able to absorb the costs.

Source: Taipei Times December 12, 2019 15:56 UTC