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07/13/2020 - Climate action is not cheap – but climate damages aren’t, either. So what level of climate action is best, economically speaking? This question has puzzled economists for decades, and in particular since the 2018 Nobel Prize in Economics went to William Nordhaus, who found 3.5 degrees of warming by 2100 might be an economically desirable outcome. An international team of scientists led by the Potsdam Institute has now updated the computer simulation model used to come to this conclusion with latest data and insights from both climate science and economics. They found that limiting global warming to below 2 degrees strikes an economically optimal balance between future climate damages and today’s climate mitigation costs. This would require a price of CO2 of more than 100 US Dollar per ton.

27/01/2020 - Climate costs are likely smallest if global warming is limited to 2 degrees Celsius. The politically negotiated Paris Agreement is thus also the economically sensible one, Potsdam researchers find in a new study. Using computer simulations of a model by US Nobel Laureate William Nordhaus, they weight climate damages from, for instance, increasing weather extremes or decreasing labour productivity against the costs of cutting greenhouse gas emission by phasing out coal and oil. Interestingly, the economically most cost-efficient level of global warming turns out to be the one more than 190 nations signed as the Paris Climate Agreement. So far however, CO2 reductions promised by nations worldwide are insufficient to reach this goal.

03/29/2018 - Rapid greenhouse-gas emissions reductions are needed if governments want to keep in check both the costs of the transition towards climate stabilization and the amount of removing already emitted CO2 from the atmosphere. To this end, emissions in 2030 would need to be at least 20 percent below what countries have pledged under the Paris climate agreement, a new study finds – an insight that is directly relevant for the global stock-take scheduled for the UN climate summit in Poland later this year. Removing CO2 from the atmosphere through technical methods including carbon capture and underground storage (CCS) or increased use of plants to suck up CO2 comes with a number of risks and uncertainties, and hence the interest of limiting them.

23/02/2018 - The Potsdam Institute for Climate Impact Research (PIK) is reinventing itself – appointing a twin leadership bringing together natural sciences and social sciences stronger than ever. In late September, the German climate economist Ottmar Edenhofer and the Swedish Earth system scientist Johan Rockström will become directors of the internationally renowned institute which is a member of the Leibniz Association. This was decided on Friday by the institute's Board of Trustees, headed by the Brandenburg Ministry of Science, Research and Culture and the German Federal Ministry of Education and Research. The retirement of the founding director Hans Joachim Schellnhuber this autumn after a quarter of a century as the head of the institute marks the beginning of a new era in Potsdam.

11/01/2018 - Rainfall changes caused by global warming will increase river flood risks across the globe. Already today, fluvial floods are among the most common and devastating natural disasters. Scientists have now calculated the required increase in flood protection until the 2040s worldwide, breaking it down to single regions and cities. They find that the need for adaptation is greatest in the US, parts of India and Africa, Indonesia, and in Central Europe including Germany. Inaction would expose many millions of people to severe flooding.