In its definitive 2007 synthesis report of the scientific literature, the Intergovernmental Panel on Climate Change (IPCC) concluded:
In 2050, global average macro-economic costs for mitigation towards stabilisation between 710 and 445ppm CO2-eq are between a 1% gain and 5.5% decrease of global GDP. This corresponds to slowing average annual global GDP growth by less than 0.12 percentage points.
So global GDP drops by under 0.12% per year — about one tenth of a penny on the dollar — even in the 445 ppm CO2-eq case (through 2050, see Table SPM.7). And this is for stabilization at 445 ppm CO2-eq, which is stabilization at 350 ppm CO2 (see Table SPM.6).
And that has a very good chance of averting the incalculable cost of catastrophic global warming impacts to the next 50 generations, which means the cost of action is far, far less than the cost of inaction.
See full Article.
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