‘Toolkit is broken’: climate modelling is straying away from climate science
Press review
Net Zero Investor
Scientists warn damage functions within mainstream economic climate models are underestimating climate impact
(...) The scientific community seemingly takes tail risk probabilities more seriously than economists do. Riccardo Rebonato, a professor at the EDHEC climate institute is amongst those calling for change.
His modelling,probabilistic in its entirety, produces a loss range depending on climate damage variation. Tipping points crucially, can be accounted for if need be.(...)