economy
US has caused $10tn worth of climate damage since 1990, research finds
US, top carbon emitter in history, has ‘a lot of responsibility’ for causing ‘substantial’ harm globally, scientist says
TL;DR
- US emissions have caused an estimated $10tn in global economic damages over the past three decades.
- Approximately 25% of these damages have affected the US itself.
- China is the world's largest emitter and is responsible for $9tn in GDP damage since 1990.
- Poorer countries, such as India ($500bn) and Brazil ($330bn), have experienced disproportionately heavy economic losses due to US emissions.
- The study quantifies 'loss and damage' caused by rising global temperatures, primarily from fossil fuel burning.
- Developing countries are calling for wealthier nations to provide financial assistance for climate change impacts.
- The research calculates how global heating has constrained GDP and assigns responsibility based on emissions since 1990.
- The US has historically resisted legal liability for its emissions.
- Donald Trump's administration withdrew the US from a loss and damage fund and global climate treaties.