— £osses from extreme weather eents in 201¡ were estimated t c a at usd0 billion althouh of course these are not all p m directl attributable to climate chane‚ ‹nsurance coered t i u o less than half of those costs “leain a lobal protection b s a ap of usd1ž2 billion”‚!* n o i t s — e u “ear„term risƒs for business include polic chanes q intended to reduce future impacts of climate chane‚ — “‡odels of economic damae are hopelessly uncertain and don’t tell us anythin” Economic models of climate chane referred to as ‹nte„ rated ssessment Models ›iamsœ are widel considered to be weaƒ‚!( Such models attempt to combine climate science climate impacts and economic models to prošect the costs and benefits of different temperature chanes‚ • …hese models tend to calculate first„order or “direct” impacts of climate chane ›such as damaes due to extreme weather eents or heat stroƒeœ and nelect effects due to miration conflict @) and lon„ lastin catastrophes‚ • iam s tend to assume that climate chane will not affect oerall economic rowth rates‚ …his is contrar to the iew that lare temperature chanes would nea„ tiel affect economic rowth which a rowin literature suests‚@! 1— Swiss ’e 201— 1ž Žarmer et al‚ 201” 20 Hsian et al‚ 201 21 ˆindcƒ 201ª ¢urƒe et al‚ 201”ª ˆretis et al‚ 201— Ÿ
Pictet Group Oxford Climate Change Study Page 35 Page 37