
Climate change is predicted to add another $53 billion of damages. The damage caused by climate change is equal to 0.01 percent of GDP in 2100.
The United States and China will be hardest hit, incurring $25 billion and $15 billion of the additional damages from climate change, respectively, amounting to 75 percent of the global damages caused by climate change. Small islands, especially in the Caribbean, will also be hit hard, suffering the highest damages per unit of GDP.
The research reveals that more intense storms will become more frequent with climate change. “The biggest storms cause most of the damage,” said Robert Mendelsohn, the lead economist on the project. “With the present climate, almost 93 percent of tropical cyclone damage is caused by only 10 percent of the storms. Warming will increase the frequency of these high-intensity storms at least in the North Pacific and North Atlantic Ocean basins, causing most of the increase in damage.”
The authors based their estimates on a future global population of 9 billion and an annual increase of approximately 3 percent in gross world product until 2100. “More people making a lot more income will put more capital in harm’s way,” he said....
Storm tracks and minimum pressure for a sample of synthetic storms. The tracks show that storms are more frequent in the western Pacific. The minimum pressure (hpa) or storm intensity is measured by their color. Storm intensity is higher over the warm waters near the Equator and lower over the cooler waters towards the poles. Source: Mendelsohn, R., K. Emanuel, S. Chonabayashi, and L. Bakkensen.. 2012. "The Impact of Climate Change on Global Tropical Cyclone Damage" Nature Climate Change doi:10.1038/nclimate1357
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