A groundbreaking study is redefining the way climate impacts are assessed, shifting the focus from economic output to human wellbeing. According to a report from EurekAlert!, researchers at the International Institute for Applied Systems Analysis (IIASA) have developed a new approach, dubbed the “wellbeing cost of carbon,” which aims to capture the far-reaching consequences of climate change on human —s. This innovative method, published in Global Sustainability, seeks to move beyond traditional monetary metrics, such as the social cost of carbon, and instead prioritize human wellbeing as the primary benchmark for sustainable development.
Sibel Eker, a Senior Research Scholar at IIASA and lead author of the study, emphasizes that “wellbeing can be modeled in a forward-looking and integrated way, capturing the links between climate change, the economy, and social development.” By placing human wellbeing at the center of decision-making, policymakers can now compare climate and development pathways in a more holistic and nuanced manner.
As EurekAlert! reports, this approach offers a promising new framework for evaluating the impacts of climate change and informing sustainable development strategies. With its findings, IIASA provides valuable options for policymakers to shape the future of our changing world.
Human wellbeing is increasingly recognized as a better benchmark for sustainable development than GDP.
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