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  The social costs of tropical cyclones

Krichene, H., Vogt, T., Piontek, F., Geiger, T., Schötz, C., Otto, C. (2023): The social costs of tropical cyclones. - Nature Communications, 14, 7294.
https://doi.org/10.1038/s41467-023-43114-4

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https://doi.org/10.5281/zenodo.8063450 (Supplementary material)
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Input data for the scripts that replicate the results of Krichene et al. 2023

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 Creators:
Krichene, Hazem1, Author              
Vogt, Thomas1, Author              
Piontek, Franziska1, Author              
Geiger, Tobias1, Author              
Schötz, Christof1, Author              
Otto, Christian1, Author              
Affiliations:
1Potsdam Institute for Climate Impact Research, ou_persistent13              

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 Abstract: Tropical cyclones (TCs) can adversely affect economic development for more than a decade. Yet, these long-term effects are not accounted for in current estimates of the social cost of carbon (SCC), a key metric informing climate policy on the societal costs of greenhouse gas emissions. We here derive temperature-dependent damage functions for 41 TC-affected countries to quantify the country-level SCC induced by the persistent growth effects of damaging TCs. We find that accounting for TC impacts substantially increases the global SCC by more than 20%; median global SCC increases from US$ 173 to US$ 212 per tonne of CO2 under a middle-of-the-road future emission and socioeconomic development scenario. This increase is mainly driven by the strongly TC-affected major greenhouse gas emitting countries India, USA, China, Taiwan, and Japan. This suggests that the benefits of climate policies could currently be substantially underestimated. Adequately accounting for the damages of extreme weather events in policy evaluation may therefore help to prevent a critical lack of climate action.

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Language(s): eng - English
 Dates: 2022-12-042023-10-312023-11-232023-11-23
 Publication Status: Finally published
 Pages: 13
 Publishing info: -
 Table of Contents: -
 Rev. Type: Peer
 Identifiers: DOI: 10.1038/s41467-023-43114-4
Organisational keyword: RD3 - Transformation Pathways
PIKDOMAIN: RD3 - Transformation Pathways
MDB-ID: No MDB - stored outside PIK (see DOI)
Research topic keyword: Mitigation
Research topic keyword: Climate Policy
Regional keyword: Global
Model / method: Qualitative Methods
Working Group: Event-based modeling of economic impacts of climate change
OATYPE: Gold - DEAL Springer Nature
 Degree: -

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Title: Nature Communications
Source Genre: Journal, SCI, Scopus, p3, oa
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Pages: - Volume / Issue: 14 Sequence Number: 7294 Start / End Page: - Identifier: CoNE: https://publications.pik-potsdam.de/cone/journals/resource/journals354
Publisher: Nature