Rabah Arezki and Akito Matsumoto
Climate change is at the top of the agenda of policymakers as they gather in Paris for the United Nations Climate Change Conference, COP21. Climate change is a threat to the very survival of humanity. Notwithstanding the severity of the threat, actions to halt climate change have been scant and uneven across countries. This Q&A article provides brief answers to seven questions about climate change, its consequences, and the coordination for developing mitigation strategies.
Cook, J., and others, 2013. “Quantifying the Consensus on Anthropogenic Global Warming in the Scientific Literature,” Environmental Research Letters, Vol. 8 No. 2, (June).
Dell, M., B. Jones, and B. Olken, 2012. “Temperature Shocks and Economic Growth: Evidence from the Last Half Century.” American Economic Journal: Macroeconomics, 4(3):66–95.
We are grateful to Maury Obstfeld for insightful comments and suggestions.
Outside carbon dioxide, greenhouse gases are methane—more potent at warming but degrades faster than carbon dioxide—water vapor, nitrous oxide, and ozone.
It could even affect the ecosystem in oceans, which absorb CO2 and emit oxygen through phytoplankton activities. One study claims that beyond a certain threshold the earth will suffer from a shortage of oxygen.
The cross-correlation between temperature and income is negative and well known often invoking weather as key explanation behind development outcomes. In addition, Dell, Jones, and Olken (2012) show that countries tend to grow more slowly in a warm year compared to a cold year. Burke and others (2015) provide evidence that the relationship between temperature and economic outcomes is in fact non-linear.