The Prague Post - Major climate-GDP study under review after facing challenge

EUR -
AED 4.278455
AFN 77.706984
ALL 97.082435
AMD 445.751852
ANG 2.085328
AOA 1068.304438
ARS 1691.455626
AUD 1.762613
AWG 2.099911
AZN 1.983754
BAM 1.957462
BBD 2.346323
BDT 142.410925
BGN 1.957717
BHD 0.439181
BIF 3435.461376
BMD 1.164999
BND 1.5085
BOB 8.049766
BRL 6.214574
BSD 1.165004
BTN 102.697526
BWP 15.506167
BYN 3.970322
BYR 22833.984949
BZD 2.342989
CAD 1.619524
CDF 2592.123354
CHF 0.928423
CLF 0.027917
CLP 1095.180497
CNY 8.270621
CNH 8.263642
COP 4518.927171
CRC 584.103499
CUC 1.164999
CUP 30.87248
CVE 110.358234
CZK 24.356991
DJF 207.449712
DKK 7.468076
DOP 74.764447
DZD 150.83478
EGP 55.119137
ERN 17.474988
ETB 178.130113
FJD 2.631092
FKP 0.877476
GBP 0.880512
GEL 3.169229
GGP 0.877476
GHS 12.668649
GIP 0.877476
GMD 85.044838
GNF 10111.586019
GTQ 8.923692
GYD 243.731143
HKD 9.052784
HNL 30.66143
HRK 7.534634
HTG 152.431396
HUF 388.608456
IDR 19261.864304
ILS 3.782414
IMP 0.877476
INR 102.893372
IQD 1526.095849
IRR 49017.342631
ISK 143.376535
JEP 0.877476
JMD 186.16808
JOD 0.825951
JPY 177.05548
KES 150.459523
KGS 101.879515
KHR 4682.976441
KMF 491.629965
KPW 1048.493951
KRW 1655.277358
KWD 0.35727
KYD 0.970824
KZT 615.790813
LAK 25289.908502
LBP 104320.485869
LKR 354.681169
LRD 213.191026
LSL 19.92582
LTL 3.43994
LVL 0.704696
LYD 6.33538
MAD 10.754886
MDL 19.798812
MGA 5199.504301
MKD 61.611786
MMK 2445.825763
MNT 4185.48673
MOP 9.324518
MRU 46.621588
MUR 53.018989
MVR 17.825205
MWK 2020.04128
MXN 21.44775
MYR 4.879601
MZN 74.440254
NAD 19.926076
NGN 1690.192631
NIO 42.866399
NOK 11.6158
NPR 164.31564
NZD 2.009988
OMR 0.44794
PAB 1.165009
PEN 3.949354
PGK 4.98321
PHP 68.412251
PKR 329.972589
PLN 4.239001
PYG 8275.062093
QAR 4.247225
RON 5.084752
RSD 117.238567
RUB 93.202738
RWF 1692.136839
SAR 4.368979
SBD 9.580748
SCR 16.175663
SDG 700.746912
SEK 10.893337
SGD 1.506717
SHP 0.874051
SLE 27.039713
SLL 24429.45085
SOS 665.765319
SRD 45.020228
STD 24113.131981
STN 24.521137
SVC 10.193656
SYP 12883.137943
SZL 19.932182
THB 37.641116
TJS 10.729395
TMT 4.077497
TND 3.424552
TOP 2.728541
TRY 48.872196
TTD 7.890802
TWD 35.639072
TZS 2865.815454
UAH 48.989888
UGX 4038.48118
USD 1.164999
UYU 46.429424
UZS 13968.861335
VES 253.850129
VND 30681.419777
VUV 141.863783
WST 3.256881
XAF 656.522924
XAG 0.024156
XAU 0.000291
XCD 3.148468
XCG 2.09961
XDR 0.81602
XOF 656.511644
XPF 119.331742
YER 277.962432
ZAR 19.923537
ZMK 10486.393076
ZMW 25.600177
ZWL 375.129277
  • RBGPF

    -0.0900

    79

    -0.11%

  • RYCEF

    -0.0600

    15.4

    -0.39%

  • CMSC

    -0.0200

    24.24

    -0.08%

  • CMSD

    -0.0800

    24.56

    -0.33%

  • BCC

    -2.0400

    70.33

    -2.9%

  • NGG

    -1.1000

    75.55

    -1.46%

  • BCE

    -0.0800

    23.49

    -0.34%

  • RIO

    0.5900

    72.58

    +0.81%

  • RELX

    -1.5400

    44.69

    -3.45%

  • JRI

    -0.2200

    13.83

    -1.59%

  • SCS

    -0.7200

    15.96

    -4.51%

  • VOD

    -0.3350

    11.9

    -2.82%

  • AZN

    -0.3800

    82.23

    -0.46%

  • BP

    0.7400

    35.2

    +2.1%

  • GSK

    2.2300

    45.93

    +4.86%

  • BTI

    -0.7400

    51.72

    -1.43%

Major climate-GDP study under review after facing challenge
Major climate-GDP study under review after facing challenge / Photo: Patrick T. Fallon - AFP/File

Major climate-GDP study under review after facing challenge

A blockbuster study published in top science journal Nature last year warned that unchecked climate change could slash global GDP by a staggering 62 percent by century's end, setting off alarm bells among financial institutions worldwide.

Text size:

But a re-analysis by Stanford University researchers in California, released Wednesday, challenges that conclusion -- finding the projected hit to be about three times smaller and broadly in line with earlier estimates, after excluding an anomalous result tied to Uzbekistan.

The saga may culminate in a rare retraction, with Nature telling AFP it will have "further information to share soon" -- a move that would almost certainly be seized upon by climate-change skeptics.

Both the original authors -- who have acknowledged errors -- and the Stanford team hoped the transparency of the review process would bolster, rather than undermine public confidence in science.

Climate scientist Maximilian Kotz and co-authors at the renowned Potsdam Institute for Climate Impact Research (PIK), published the original research in April 2024, using datasets from 83 countries to assess how changes in temperature and precipitation affect economic growth.

- Influential paper -

It became the second most cited climate paper of the year, according to the UK-based Carbon Brief outlet, and informed policy at the World Bank, International Monetary Fund, US federal government and others. AFP was among numerous media outlets to report on it.

Yet the eye-popping claim that global GDP would be lowered by 62 percent by the year 2100 under a high emissions scenario soon drew scrutiny.

"That's why our eyebrows went up because most people think that 20 percent is a very big number," scientist and economist Solomon Hsiang, one of the researchers behind the re-analysis, also published in Nature, told AFP.

When they tried to replicate the results, Hsiang and his Stanford colleagues spotted serious anomalies in the data surrounding Uzbekistan.

Specifically, there was a glaring mismatch in the provincial growth figures cited in the Potsdam paper and the national numbers reported for the same periods by the World Bank.

"When we dropped Uzbekistan, suddenly everything changed. And we were like, 'whoa, that's not supposed to happen,'" Hsiang said. "We felt like we had to document it in this form because it's been used so widely in policy making."

The authors of the 2024 paper acknowledged methodological flaws, including currency exchange issues, and on Wednesday uploaded a corrected version, which has not yet been peer-reviewed.

"We're waiting for Nature to announce their further decision on what will happen next," Kotz told AFP.

He stressed that while "there can be methodological issues and debate within the scientific community," the bigger picture was unchanged: climate change will have substantial economic impacts in the decades ahead.

- Undeniable climate impact -

Frances Moore, an associate professor in environmental economics at the University of California, Davis, who was not involved in either the original paper or the re-analysis, agreed. She told AFP the correction did not alter overall policy implications.

Projections of an economic slowdown by the year 2100 are "extremely bad" regardless of the Kotz-led study, she said, and "greatly exceed the costs of reducing greenhouse gas emissions to stabilize the climate, many times over."

"Future work to identify specific mechanisms by which variation in climate affects economic output over the medium and long-term is critical to both better understand these findings and prepare society to respond to coming climate disruption," she also noted.

Asked whether Nature would be retracting the Potsdam paper, Karl Ziemelis, the journal's physical sciences editor, did not answer directly but said an editor's note was added to the paper in November 2024 "as soon as we became aware of an issue" with the data and methodology.

"We are in the final stages of this process and will have further information to share soon," he told AFP.

The episode comes at a delicate time for climate science, under heavy fire from the US government under President Donald Trump's second term, as misinformation about the impacts of human-driven greenhouse gases abounds.

Yet even in this environment, Hsiang argued, the episode showed the robust nature of the scientific method.

"One team of scientists checking other scientists' work and finding mistakes, the other team acknowledging it, correcting the record, this is the best version of science."

Y.Havel--TPP