Statistics Norway released a quantitative assessment of the macroeconomic impacts of climate change on Norway’s economy, using its computable general equilibrium model, SNOW. The study simulates six climate scenarios—low, medium, and high for 2050 and 2100—analyzing effects on selected sectors such as agriculture, forestry, fisheries, hydropower, tourism, buildings, and transport infrastructure. Results show that direct climate effects on hydropower, agriculture and forestry are positive, but interaction with existing policies and market reallocations produce larger welfare losses, more than twice the direct costs. Transport infrastructure bears the largest direct negative impact, though employment gains partially offset this. The report highlights that climate‑induced resource shifts toward policy‑favoured sectors drive the majority of welfare losses and that costs rise toward the century’s end unless low or medium scenarios are achieved.
Source: Statistics Norway (Statistisk sentralbyrå).
Text/data reproduced from https://www.ssb.no/.
Licence: Creative Commons Attribution 4.0 International (CC BY‑4.0).
Licence link: https://creativecommons.org/licenses/by/4.0/
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