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After all, Western economies – and their economic growth – depend utterly on labour and resources from the South...
This full length briefing explains what Non-Economic Loss and Damage (NELD) is, why and how it happens, where it happens, who is most affected, and importantly how it can be addressed. Featuring case studies from both the Global North and South, the brief captures the latest thinking on NELD all in one place whilst acting as an accessible introduction for those new to the topic.
While climate scientists warn that climate change could be catastrophic, economists such as 2018 Nobel prize winner William Nordhaus assert that it will be nowhere near as damaging. In a 2018 paper published after he was awarded the prize, Nordhaus claimed that 3°C of warming would reduce global GDP by just 2.1%, compared to what it would be in the total absence of climate change.
