Is this a sign that climate impact alarmism is on the wane? Could adaptation be fighting back against Kyoto-style mitigation policies, and even be becoming received wisdom among international agencies and NGOs?
A June 5th Press Release from the Inter-American Development Bank (IDB), the Economic Commission of Latin America and the Caribbean (ECLAC) and the World Wildlife Fund (WWF), shockingly proclaims, ‘Latin America and the Caribbean face massive economic damages from global warming, report warns’. But it contains some very interesting stuff.
The full report will be released at the Rio+20 Summit in two weeks time, so we’ll have to wait to see how they’ve worked out the damages, estimated to be ‘in the order of $100 billion [per year] by 2050‘ for Latin America and the Caribbean. There’s also a short report teaser here. Let’s not argue about that figure, which is based upon 2C temperature rise over pre-industrial levels. The only clue given is that ⅓ to ½ of the cost is to agriculture.
We can however see what the three organisations who produced the report estimate to be the cost of dealing with this damage by mitigation or adaptation: