False Alarm: How Climate Change Panic Costs Us Trillions, Hurts the Poor, and Fails to Fix the Planet

by Bjørn Lomborg

Thus, the damage to GDP ends up 0.4 percent less than that in our scenario with no climate change policy. A realistic, moderate and increasing carbon tax policy can definitely make a net benefit for society worth $18 trillion, or 0.4 percent of GDP.