Energy economics Archives

Climate change: how economists underestimated benefits of action for decades

Dimtri Zenghelis, University of Cambridge The costs of doing nothing vastly outweigh the costs of decarbonising a global economy which, since the Industrial Revolution, has been powered by fossil fuels. That may seem self-evident today, when catastrophic fires and floods offer daily reminders of how expensive continued inaction on climate change is. But 15 years ago, that insight was ground-breaking. …