Climate wealth borrowing by countries since 1950 – Nature Climate Change
Climate wealth borrowing by countries since 1950 Nature.com
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An Integrated Assessment of the Historical Social Costs of Carbon
Introduction
An integrated assessment model was utilized to estimate the historical time-series of the social costs of carbon from 1950 to 2018. This model was calibrated based on past economic and climate development. The aim was to assess the extent to which individual countries contributed to the reduction of global wealth through their fossil and industrial-process carbon dioxide emissions.
Sustainable Development Goals (SDGs)
- SDG 13: Climate Action
- SDG 8: Decent Work and Economic Growth
- SDG 9: Industry, Innovation, and Infrastructure
Methodology
- An integrated assessment model was calibrated using historical data on economic and climate development.
- The model estimated the social costs of carbon from 1950 to 2018.
- The contributions of individual countries to global wealth reduction through their carbon dioxide emissions were assessed.
Results
The historical time-series of the social costs of carbon revealed the significant impact of fossil and industrial-process carbon dioxide emissions on global wealth reduction. Figure 1 illustrates the global mean climate wealth borrowing per capita.
References
- Nordhaus, W. D. Revisiting the social cost of carbon. Proc. Natl Acad. Sci. USA 114, 1518–1523 (2017).
- Feenstra, R. C., Inklar, R. & Timmer, M. P. The next generation of the Penn World Table. Am. Econ. Rev. 105, 3150–3182 (2015).
- Friedlingstein, P. et al. Global carbon budget 2020. Earth Syst. Sci. Data 12, 3269–3340 (2020).
- Drupp, M. A., Freeman, M. C., Groom, B. & Nesje, F. Discounting disentangled. Am. Econ. J. 10, 109–134 (2018).
SDGs, Targets, and Indicators Analysis
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 13: Climate Action
- SDG 8: Decent Work and Economic Growth
The article discusses the social costs of carbon emissions and their impact on global wealth, which is directly related to climate change and the need for climate action (SDG 13). It also mentions the reduction of global wealth through carbon emissions, which is connected to the goal of achieving decent work and economic growth (SDG 8).
2. What specific targets under those SDGs can be identified based on the article’s content?
- Target 13.1: Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters
- Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries
The article highlights the historical social costs of carbon emissions, which emphasizes the need to strengthen resilience and adaptive capacity to climate-related hazards and natural disasters (Target 13.1). It also mentions the reduction of global wealth caused by carbon emissions, which indicates the importance of sustaining per capita economic growth (Target 8.1).
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Indicator: Social costs of carbon emissions
- Indicator: Reduction of global wealth through carbon emissions
The article explicitly discusses the social costs of carbon emissions, which can be used as an indicator to measure progress towards Target 13.1. It also mentions the reduction of global wealth caused by carbon emissions, which can serve as an indicator to measure progress towards Target 8.1.
SDGs, Targets, and Indicators Table
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 13: Climate Action | Target 13.1: Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters | Social costs of carbon emissions |
| SDG 8: Decent Work and Economic Growth | Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries | Reduction of global wealth through carbon emissions |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: nature.com
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