mick, TIL: The IPCC integrated assessment models are based on an economic model that seems fatally flawed.
Response to the #ClimateEmergency is based on the assumption that we can overshoot the 1.5 - 2 C warming limit and ride out 2.7 to 3.5 C of warming while the global economy "optimizes.”
The model assumes (among other incredibly daft things) that about 90% of GDP will be unaffected by climate change - because it happens indoors. 🤯
https://theintercept.com/2023/10/29/william-nordhaus-climate-economics/