Effects of heatwaves. Bangladeshi farmers have suffered a lot due to severe heat wave this year; But much of it is unknown to us. In abnormal heat, cow skin shows pox-like symptoms.

Here is my story about the impact of heatwave on agriculture —

downtoearth.org.in/news/climate-c…

Oh, nothing really.

Just research suggesting climate impacts will cost SIX TIMES MORE than previously thought

Strap in.
x.com/climateconomic…

Climate damages are '6X LARGER than previously thought', says new NBER working paper

– every 1C wipes out 12% of global GDP
– every tonne of CO2 causes >$1,000 of damages

Gernot Wagner tells me: 'Assuming nobody finds a flaw in this paper, it is going to truly change things'

Poverty is the leading cause of hunger in Europe. Dr. Shouro Dasgupta, PhD | shourodasgupta.bsky.social and I Grantham LSE show how climate change is increasing food insecurity. Increasing frequency of heatwaves & droughts drives up prices, makes it harder for households to access sufficient health & nutritious food

Estimates of the GDP cost of climate change have always seemed unfathomably small. This paper offers a serious counter-estimate. 'We find that a 1°C rise in global temperature lowers world GDP by 12% at peak.'

Catastrophe bonds and other insurance-linked securities are built on calculations that can underestimate #climaterisk stemming from high-frequency events such as wildfires and thunderstorms, say veteran investors
asiainsurancepost.com/archives/53093

New paper with Diego Känzig showing that the Social Cost of Carbon is above $1,000/ton. Time series variation in global temperature implies 6x larger damages and more extreme events than panel variation in local/country-level temperature.

shorturl.at/vxLO3

Thrilled to share our latest work with Adrien Bilal! Check out our new working paper:

𝗧𝗵𝗲 𝗠𝗮𝗰𝗿𝗼𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝗖𝗹𝗶𝗺𝗮𝘁𝗲 𝗖𝗵𝗮𝗻𝗴𝗲: 𝗚𝗹𝗼𝗯𝗮𝗹 𝘃𝘀. 𝗟𝗼𝗰𝗮𝗹 𝗧𝗲𝗺𝗽𝗲𝗿𝗮𝘁𝘂𝗿𝗲

Read here: bit.ly/4bsxvU0

Thread below👇

One thing I wished more people understood about climate change is that we have not yet experienced any where near the full consequences of the warming we've already caused.

Here's a 🧵 explaining why...

Rio Grande do Sul, a key agricultural hub home to 11 million people, has faced flooding multiple times in the last year, and preliminary estimates suggest that the economic toll of the current crisis could reach $2.5 billion...

#CatBonds :

The basic models frequently underestimate losses from secondary perils such as wildfires, floods, and thunderstorms, which are being exacerbated by global warming

Last year, they accounted for 86% of global insurance losses...

insurancejournal.com/news/national/…

Association of British Insurers:
'We must all recognise the importance of mitigating against hotter summers, more frequent flooding, increasing extreme weather and problems caused by old infrastructure and housing that was designed for cooler temperatures'
insurancenews.com.au/international/…

#Climaterisk 'front of mind' for NZ home buyers

About 86% of homeowners would consider climate risks when buying a property, up from 55% two years ago, with 90% saying they want more information on hazard risks publicly available

insurancenews.com.au/local/climate-…

'Avocados might be a superfood, but their kryptonite is climate change', warns Mariana Paoli christianaid

Under worst-case climate scenario, prime avocado growing regions will shrink, with significant economic impacts for producing communities...

businessgreen.com/news/4206887/g…

Historically wet winter to damage UK's food self-sufficiency from 86% in recent years to 78% this year, says think tank ECIU

'Less domestic production and more imports could hold back the decline in food inflation'...

reuters.com/world/uk/histo…

In California, the big worry isn’t a Category 5 hurricane. It’s wildfires devouring multimillion-dollar hillside estates...

bloomberg.com/news/features/…