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(1) KNU Definition
Damages in CCEM is the loss of productive assets due to global warming catastrophic consequences:
storms, huricanes
fires
floods
draughts, water shortages
canicules, heatwaves
This KNU is measured with the percentage of GDP loss due to these catastropic events a given year. You may find more about damages in CCEM in this Web page
(2) What the slider in G2WS does ?
The slider applies a correction to the default value of the KNU taken from:
[1] Wade, K., Jennings, M. (2016). “The impact of climate change on the global economy”. Schroders Talking Point, 2016 - schroders.com[D1] [YC2] .
The control KPI used by G2WS to display the effect of the slider is the GDP loss at +3C.
More explanation about this slide may be found in this presentation.
What we known about damages ?
What we known about damages ?
This slide on the left illustrates that we do not much (or do not agree) about damages. It represents three viewpoints:
leftmost is the initial "data-driven" assessment made by Moody's or Nordhaus, famously summarized as "+3C means -3% GDP.
The middle column represent the values found in a number of reassurance companies, or met-studiers, such as the one used for CCEM default KNU
The right column represent more recent assessments, such as the one from NIGEM
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