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Paris Agreement and Climate Change

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In today’s world, it has become important to take measures that will keep the rising temperatures from rising by two degree Celsius. The pre-industrial time experienced lower temperatures and stability in the climate. However, after industrialization, the emissions from the industries increased the global temperatures to the extent of about 1.5 degrees Celsius. The effect of this rise has been the climate change. The Paris Agreement was supposed to provide the measures of preventing the continued increase in temperatures and to ensure there is better management of the global warming across the globe. The Agreement also makes it easier for people to see what people are doing and how they are getting help. Thus, the impacts of climate change increase the costs since it is necessary to mitigate the effects and bring benefits, including improving global food security. The increased impacts of climate change have caused increased droughts in some countries and excessive flooding in others due to the increased melting of the glaciers. Thus, the analysis of the costs and the benefits of mitigating climate change through the Paris Agreement needs to be established.

Impacts of Climate Change Mitigation on Global Economies

The release of greenhouse gases that natural systems cannot use, humans are causing climate change. As a result, the level of greenhouse gases rises over time, which causes the temperature to rise as well (Gomez-Echeverri, 2018). Having a low carbon economy is a no-brainer for the world as a whole. Radical changes need to be made to how economic activities work, especially when it comes to energy systems, cities, and transportation. However, this change is difficult and costly. Existing infrastructure and equipment are long-lasting, which makes it hard to make changes.

Rising temperatures are likely to cut the world’s wealth by a lot by 2050, because crop yields will go down, the disease will spread, and rising seas will eat coastal cities. Global economic output could be cut by 11 percent to 14 percent in 2050 because of the effects of climate change. This is compared to how much growth there would have been without climate change (Ourbak & Magnan, 2018). As much as $23 trillion in global economic output will be lost each year because of climate change. Dealing with the problem of global warming is important to help conserve the ecosystem. Coastal barrier reefs and wetlands, which remove impurities from water, could be at risk because of rising seas (Gössling & Higham, 2021). Drought and pests are hurting forests, which make lumber. Oceans, lakes, and rivers that support the fishery are at risk because of rising temperatures and acidity, which could harm them. The reason nature doesn’t charge market prices for these services is that people don’t think about them as much as other things. Climate change mitigation, on the other hand, will have a positive effect on global economies because it will provide many benefits.

Water conservation and Clean Water

Due to climate change, the current precipitation changes mean less water is available in dry places like the western United States. Climate change is causing the loss of snowpack and melting glaciers, causing water shortages in many countries. In the long run, addressing global warming could lessen the threat to these water sources (Tan & Foo, 2018). Reducing the rise in global temperatures would mean good preservation of the water sources and, hence, improving water availability.

Water shortages have a wide range of effects. People are forced to pay more to access water for basic use and farming requirements. Higher temperatures and less water in streams and rivers could reduce a country’s hydropower ability and reduce the amount of electricity used to run the households and industries. Thus, with climate change management, global economies are assured of better performance and improvement in the balance of trades because industries are able t run effectively (Bos & Gupta, 2019). The water shortages affect the industries more, especially in the agricultural sector. Droughts result in food shortages, and the industries in this sector are rendered ineffective in performance. This creates unemployment, and the exports in a country decline. Thus, mitigating climate change will ensure proper management of water sources, maintaining industrial performance, and electricity generation. It is also important to note that the production of energy through nuclear and fossil fuels uses more water in olling down the systems. Many climate-friendly renewable sources are able to generate electricity using less water and hence they are more environmentally friendly.

Reducing the Costs of Climate Change

Everyone on the planet has already had to pay for climate change. As the sea level rises, more powerful hurricanes are hitting the coasts, Midwest farmland is getting hotter and plagued by bugs. Communities in the horn of Africa are experiencing drought and lack of water. If people acted to cut down on greenhouse gases emission, they would be able to save these countries from the costs of mitigating the droughts. Changes in the weather can have a big impact on businesses, like maple sugaring or ski resorts in Colorado (Kompas et al., 2018). Companies that use the oil rigs in the Gulf of Mexico and shipping on the Great Lakes can benefit from climate change. A study by Hasegawa et al. (2018) found that if greenhouse gas emissions like damage from hurricanes, high costs of energy, buying water, and the costs of destruction of residentials due to sea-level rise aren’t reduced, they account for 1.4% of GDP by 2025 and 1.9% by 2100. (Tol, 2020).

Confounders Threatening the Validity of the Analysis

The emissions and the greenhouse gases have become a major threat in the world today. However, the effectiveness of the Paris Agreement is reduced by the fact that the major players in global pollution have not conformed to ways of dealing with thee emissions. China and the United States are major players in global pollution. Methane, one of the greenhouse gases, comes from coal mines, gas flaring, venting, transportation, landfills, rice farming, and manure (Honegger & Reiner, 2018). Methane is a powerful greenhouse gas, and it also causes ozone to form. On the other hand, carbon dioxide is the main cause of global warming. The developed countries contribute to most of these emissions, resulting in adverse effects in developing countries. Thus, the effectiveness and validity of the research are threatened by the imbalance that exists. Figure 1 shows the countries considered major emitters of greenhouse gases as of 2018.

The second confounder threatening the analysis is that air quality and climate change have been thought of as separate problems needing solutions. But when it comes to methane and carbon dioxide, these two environmental issues work very well together. Kompas et al. (2018) found that finding ways to reduce the number of air pollutants would slow down climate change in the near future and improve air quality. Thus, with the separation of these two measures, achieving the benefits of climate change management is difficult.

Mitigating the Effects of Confounders

Providing governments and other people with important information about how to deal with climate change is the first step in enhancing climate change management. The right policies to mitigate the effects of the developed countries and their high emissions levels are important. The important aspect is to ensure the nations work together to manage and spread knowledge about climate change adaptation and meet the needs of climate change practitioners on the ground (Ourbak & Magnan, 2018). It makes people, ecosystems, and economies in the region more resilient and sustainable to climate change.

Supporting Developing Countries Overcome the Threats of Climate Change

The most affected economies by climate change are the developing ones. The developing countries lack the expertise in terms of technology to deal with climate change. Thus, the developed countries need to support the developing ones using financial assistance, technology, and the global intergovernmental climate change talks.

Costs of Managing Climate Change

The first cost in mitigating climate change is the abatement potential. It is a term used to show the measures used to manage the amount of potential greenhouse gas reductions that can be achieved technologically and economically. Figure 2 shows a graph of money costs to remove pollution from the air.

The cost of cutting back greenhouse gas emissions will be high by 2030. The costs are due to the increasing pollution in the developed countries. Thus, instead of reducing the costs, they are increasing. The greatest cost is that of health care which is associated with the increased effects of climate change. It is projected that by 2030 there will be 400,000 lives which will be lost due to direct effects of climate change (Rodrik, 2018). Thus, the government all over the world has to bear all the costs.

It’s possible that policies to fight climate change could also have an effect on growth and wealth. It doesn’t matter that wind and solar photovoltaics are now cheaper than fossil fuels in most countries. It doesn’t make a difference. People still have to pay more for some types of energy that aren’t carbon-based, like hydrogen. But in the long run, climate policies that help or subsidize new low-carbon technology can be more cost-effective than climate policies that don’t do that. For example, they can make energy more cheap, keep the climate from changing, and do other good things, like cut down on the health effects of air pollution. By 2030, when business as usual is replaced with low-carbon growth, it could be worth $26 trillion and create more than 65 million jobs (Gomez-Echeverri, 2018). By 2050, decarbonizing hard-to-abate sectors like steel and aluminum can be done with existing technology. By mid-century, the total cost to the global economy would be less than 0.5% of GDP due to climate change. Figure 3 shows the control of the relationship between GDP and greenhouse gas.

Measures to Slow Climate Change

The benefits that accrue from the energetic actions of controlling climate change exceed the economic costs that come from inaction. The risks of climate change can be reduced when the greenhouse gas is stabilised to 450 to 500 parts per million. This means that the actual costs of reducing climate change is 1% of the GDP in order to achieve a carbon dioxide ceiling of 55p ppm by 2050 ( Gomez-Echeverri, 2018). Making sure that the planet doesn’t get too hot is called “mitigating climate change.” Retrofitting buildings, using renewable energy sources like solar and wind, using electric cars, biofuels, and land and forests in more sustainable ways, and encouraging more sustainable land and forest use can make buildings more energy efficient. There are about 1.4 billion people in the world who get their main source of energy from coal and wood. This is bad for the environment, but it can also kill a lot of people, especially women and young people, who are most at risk. Demand for energy is expected to rise more than 50% around the world by 2035, and even more in countries that are still developing (Bos & Gupta, 2019). In other words, efficient technologies and efficient sources of energy are important for effective work. Technology is an important way to cut down on or slow down the growth of and keep the concentration of greenhouse gas emissions in the air the same. Thus, it is important to encourage new ideas and the transfer of technology in the field of climate change. Decentralized renewable power with energy storage, electric drive technologies, and electric mobility, which makes it easier for people to use less energy.

The second strategy is to show how mitigation options have a big impact on the whole world. There are many natural and economic systems that are affected by climate change. This means that climate change affects all parts of the world’s economy. Thus, it is important to build climate-resilience measures in other parts of the world and promote multiple global environmental benefits in a holistic and integrated way (Hasegawa et al., 2018). To do this, the adoption of standards that help enhance land use and food systems. The projections are that on average every child born today will be alive by 2090. However, with the continued emissions the temperatures could rise by 4 degrees Celsius which could be very catastrophic. In ensuring that climate change issues are incorporated into national planning and development, the countries should work on the right data, analysis, and policy frameworks to ensure they are in place. This will help build transparency on the true cots and the benefits of mitigating climate change.


In conclusion, the effects of climate change have been increasing as time goes on. Thus, the Paris Agreement was supposed to be a document that binds countries to enhance their measures dealing with climate change. However, the costs associated with the Paris Agreement seem to be higher than the benefits. Although it is important to control the global temperatures to preserve biodiversity and ensure the future is enhanced, it is difficult to provide for all the countries participating in this initiative. The costs include the technological requirements and the burden of the developed countries on supporting the developing countries. However, the ethical consideration in this is that these developed countries are responsible for the increased cases of pollution and the greenhouse gases that affect the developing countries more than these developed nations. It is thus beneficial to control climate change because it will enhance the availability and preservation of water resources and increase food security. The costs of managing climate change are high but would increase if no steps are taken to control the effects of the greenhouse gases now. However, the benefits can be carried forward for many years to come.


Bos, K., & Gupta, J. (2019). Stranded assets and stranded resources: Implications for climate change mitigation and global sustainable development. Energy Research & Social Science56, 101215.

Gomez-Echeverri, L. (2018). Climate and development: enhancing impact through stronger linkages in implementing the Paris Agreement and the Sustainable Development Goals (SDGs). Philosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering Sciences376(2119), 20160444.

Gössling, S., & Higham, J. (2021). The low-carbon imperative: Destination management under urgent climate change. Journal of Travel Research60(6), 1167-1179.

Hasegawa, T., Fujimori, S., Havlík, P., Valin, H., Bodirsky, B. L., Doelman, J. C., … & Witzke, P. (2018). Risk of increased food insecurity under stringent global climate change mitigation policy. Nature Climate Change8(8), 699-703.

Honegger, M., & Reiner, D. (2018). The political economy of negative emissions technologies: consequences for international policy design. Climate Policy18(3), 306-321.

Kompas, T., Pham, V. H., & Che, T. N. (2018). The effects of climate change on GDP by country and the global economic gains from complying with the Paris climate accord. Earth’s Future6(8), 1153-1173.

Ourbak, T., & Magnan, A. K. (2018). The Paris Agreement and climate change negotiations: Small Islands, big players. Regional Environmental Change18(8), 2201-2207.

Rodrik, D. (2018). New technologies, global value chains, and developing economies (No. w25164). National Bureau of Economic Research.

Tan, R. R., & Foo, D. C. (2018). Integrated multi-scale water management as a climate change adaptation strategy. Clean Technologies and Environmental Policy20(6), 1123-1125.

Tol, R. S. (2020). The economic impacts of climate change. Review of Environmental Economics and Policy.

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