Estimates of climate change damage are central to the design of climate policies. Here, we develop a flexible architecture for computing damages that integrates climate science, econometric analyses, and process models. We use this approach to construct spatially explicit, probabilistic, and empirically derived estimates of economic damage in the United States from climate change. The combined value of market and nonmarket damage across analyzed sectors—agriculture, crime, coastal storms, energy, human mortality, and labor—increases quadratically in global mean temperature, costing roughly 1.2% of gross domestic product per +1°C on average. Importantly, risk is distributed unequally across locations, generating a large transfer of value northward and westward that increases economic inequality. By the late 21st century, the poorest third of counties are projected to experience damages between 2 and 20% of county income (90% chance) under business-as-usual emissions (Representative Concentration Pathway 8.5).

This study reports a new and significantly enhanced analysis of US flood hazard at 30 m spatial resolution. Specific improvements include updated hydrography data, new methods to determine channel depth, more rigorous flood frequency analysis, output downscaling to property tract level, and inclusion of the impact of local interventions in the flooding system. For the first time, we consider pluvial, fluvial, and coastal flood hazards within the same framework and provide projections for both current (rather than historic average) conditions and for future time periods centered on 2035 and 2050 under the RCP4.5 emissions pathway. Validation against high-quality local models and the entire catalog of FEMA 1% annual probability flood maps yielded Critical Success Index values in the range 0.69-0.82. Significant improvements over a previous pluvial/fluvial model version are shown for high-frequency events and coastal zones, along with minor improvements in areas where model performance was already good. The result is the first comprehensive and consistent national-scale analysis of flood hazard for the conterminous US for both current and future conditions. Even though we consider a stabilization emissions scenario and a near-future time horizon, we project clear patterns of changing flood hazard (3σ changes in 100 years inundated area of −3.8 to +16% at 1° scale), that are significant when considered as a proportion of the land area where human use is possible or in terms of the currently protected land area where the standard of flood defense protection may become compromised by this time. Plain Language Summary We develop a method to estimate past, present, and future flood risk for all properties in the conterminous United States whether affected by river, coastal or rainfall flooding. The analysis accounts for variability within environmental factors including changes in sea level rise, hurricane intensity and landfall locations, precipitation patterns, and river discharge. We show that even for a conservative climate change trajectory we can expect locally significant changes in the land area at risk from floods by 2050, and by this time defenses protecting 2,200 km 2 of land may be compromised. The complete dataset has been made available via a website (https://floodfactor.com/) created by the First Street Foundation in order to increase public awareness of the threat posed by flooding to safety and livelihoods. BATES ET AL.

Using 40 countries’ subnational data, we estimate age-specific mortality-temperature relationships and extrapolate them to countries without data today and into a future with climate change. We uncover a U-shaped relationship where extreme cold and hot temperatures increase mortality rates, especially for the elderly. Critically, this relationship is flattened by both higher incomes and adaptation to local climate. Using a revealed-preference approach to recover unobserved adaptation costs, we estimate that the mean global increase in mortality risk due to climate change, accounting for adaptation benefits and costs, is valued at roughly 3.2% of global GDP in 2100 under a high emissions scenario. Notably, today’s cold locations are projected to benefit, while today’s poor and hot locations have large projected damages. Finally, our central estimates indicate that the release of an additional ton of CO2 today will cause mortality-related damages of ${\$}$36.6 under a high-emissions scenario, with an interquartile range accounting for both econometric and climate uncertainty of [-${\$}$7.8, ${\$}$73.0]. These empirically grounded estimates exceed the previous literature’s estimates by an order of magnitude.

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This is a post-print of an article published in Nature.