Better understanding economic impacts of climate change and accelerating science-based climate action

The Royal Society and International Science Council co-hosted an official United Nations Framework Convention on Climate Change (UNFCCC) side event in the Blue Zone at COP28 in the United Arab Emirates.

Event background

Science is fundamental to global climate policy processes and action. The findings of physical climate science over recent decades have generated a deeper understanding of the very serious risks to human societies and ecosystems from current and future climate change. Economists also have sought to understand and assess the economic impacts of current and future climate and to inform governmental and private sector policies, finance, and strategic decisions. However, many economic assessments do not adequately reflect the scientific evidence of current and future climate change, often resulting in misleading portrayals of the possible economic consequences of climate change.

This highlights the need for fundamental changes within science itself that would lead to a more enhanced inter- and transdisciplinary collaboration between physical science, economics, and other social sciences, and the societal actors to overcome the long-term disconnect that has existed between these disciplines and the society in the context of climate change.

This side event presented key findings of the work undertaken by the Royal Society and the International Science Council on how to better understand economic impacts of climate change and accelerate science-based climate action globally. 

Confirmed speakers

• Professor Zakri Abdul Hamid, Chairman of Atri Advisory, Ambassador and Science Advisor, Campaign for Nature (CFN), ISC Fellow
• Professor Cameron Hepburn, Battcock Professor of Environmental Economics, Smith School of Enterprise & the Environment, University of Oxford
• Professor Jim Skea, IPCC Chair
• Professor Tolullah Oni, Clinical Professor of Global Public Health and Sustainable Urban Development, University of Cambridge, ISC Fellow (moderator)
• Professor Åsa Persson, Research Director and Deputy Director, SEI
• Professor Detlef Stammer, Director of the Center for Earth System Research and Sustainability, University of Hamburg, Chair of the Joint Scientific Committee of the World Climate Research Programme

Watch the event online

A recording of this event can be viewed on the UNFCCC website and YouTube.

Further reading

Read the Royal Society report on climate change economics.

Read the International Science Council report on flipping the science model.

Find out more about the Royal Society's work on climate change and low carbon energy.