How climate change will affect human wellbeing

This discussion examines the projected impact of climate change on flourishing and languishing countries in a conversation between Professor Kevin Fox, School of Economics, UNSW Business School, and Emeritus Professor Quentin Grafton, Crawford School of Public Policy, Australian National University. The discussion outlines modelling of proportional GDP and income losses to 2050, showing that while all countries are worse off under climate change, lower-income countries face significantly larger percentage declines than higher-income countries. It considers differences in income trajectories, including countries that have not yet peaked in per capita income growth compared with those that have, and highlights the equity implications for countries with limited capacity to adapt. The discussion also reviews policy responses, including cross-country financial transfers from nations with per capita incomes above US$40,000, and assesses their relative scale and potential impact based on projected climate damages and agreed international targets.

Key takeaways: climate change reduces income in all countries, low-income countries face proportionally larger GDP losses, higher-income countries experience smaller relative impacts, income growth trajectories affect long-term outcomes, cross-country transfers could offset large losses in poorer economies, equity and adaptation capacity shape climate policy responses

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Видео How climate change will affect human wellbeing канала UNSW Business School