Across the globe, public finances are under pressure with growth per person decreasing while expenses for essential services like pensions, education, and health care are rising. Green activists are pushing for governments to allocate up to 25% of GDP towards climate change efforts, which could stifle economic growth. Current estimates suggest that the global cost of climate change might only impact GDP by about 1. 9% to 3. 1% by the end of the century, according to notable climate economists Richard Tol and William Nordhaus.
This perspective contrasts sharply with alarmist views that suggest a dire climate crisis. Research shows that while the average global wealth per person is expected to increase significantly, the effects of climate change might only slightly reduce this growth. Alarmist views often overlook human adaptability and the relatively low costs of addressing climate-related issues. For instance, food availability is still projected to increase even with climate change, and fatalities from weather disasters have dramatically decreased over the decades due to increased resilience and better technology.
The article criticizes extreme climate activists and politicians advocating for reduced economic growth in their pursuit of environmental goals. Such policies could hinder economic progress and prolong existing global challenges like poverty. Moreover, it highlights the absurdity of expecting adversarial nations to adopt similar climate policies, pointing out that even responsible leaders advocating for net-zero emissions still intend to slow growth by pushing less efficient energy sources.
Economic costs of inefficient climate policies could escalate significantly, with estimates suggesting annual costs of $15 trillion to $37 trillion. This would place a heavy financial burden on wealthier nations, leading to individual costs exceeding $10,000 annually.
The situation in Europe serves as a cautionary tale; despite intentions to become a leading knowledge-based economy, the EU's focus on climate initiatives has stunted innovation and growth. High expenditure on climate policies produced minimal tangible benefits, with predicted temperature reductions being negligible. Investment in innovation could have yielded much greater economic returns.
Ultimately, the article argues that governments should learn from Europe’s example and divert resources toward effective policies that address key challenges without compromising economic growth.
Bjorn Lomborg emphasizes the need for a balanced approach that allows for progress in various essential sectors while addressing climate change.
https://www.naturalnews.com/2025-01-26-climate-change-fanatics-want-bankrupt-the-world.html
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