Pirate's Cove

Obviously, the Warmists are saying “well, sure, the study was wrong, but, we know the effects are real. It was flawed, fake but accurate”

Climate change study that overestimated economic impact is pulled — but not before banks relied on it

The scientific journal Nature retracted an influential paper that overestimated the economic toll of climate change – but not until after central banks around the world had used it to create risk management scenarios.

The three scientists who worked on the study on Wednesday cited “substantial” issues with the paper, which was originally published in Nature in April 2024.

The article estimated a massive 62% drop in worldwide economic output by 2100 if carbon emissions continue unabated.

But earlier this year, a Nature article by a separate team of economists noted that the climate study’s findings were largely skewed by problems with the data for just one country, Uzbekistan.

If numbers for the Central Asian nation were excluded from the data set, instead of a 62% decline in economic output, there would be a 23% drop – still a big blow, but not nearly as catastrophic as initially suggested.

You know it was all done on purpose, because the science of climate has been totally perverted into a political, cultish “science”. And, realistically, the whole drop thing is surely crap in total. Effects of climate and weather (the long term weather becomes climate) always have positives and negatives. Growing wine in England during the Medieval Warm Period while have a few more problems in France.

The faulty number – which was roughly three times typical estimates – quickly made headlines and was cited by policymakers around the world, including the World Bank and the Organization for Economic Co-operation and Development.

It was also used by the Network for Greening the Financial System last year as it updated its scenarios modeling the expected economic impact of climate change.

Yeah, so banks around the world relied on this study, and Warmist politicians took it to heart and even tried to pass, and in some cases, did pass, laws, along with rules and regulations

Over the summer, the climate study’s authors – Maximilian Kotz, Anders Levermann and Leonie Wenz of the Potsdam Institute in Germany – reviewed and amended the paper in light of the critical findings.

But they later acknowledged that their errors were “too substantial for a correction,” leading to the retraction this week.

And rather than resigning in disgrace, they are going to redo the paper, because the cult never stops, and no one is ever punished for doomsday cult behavior.

Let’s check The Paper Of Record

Top Journal Retracts Study Predicting Catastrophic Climate Toll
While growing evidence shows that carbon emissions are harming the economy, the journal Nature found that an outlier paper had deep flaws.

Just from the subhead you can see the NY Times is going with “fake but accurate”, and much of the fable reads that way.

(National Review) Associated Press, Reuters, Forbes, Bloomberg, Axios, and Voice of America, among other outlets, covered the study when it was released. National Review has reached out to each of the outlets to ask whether they will revise the articles. In response, AP pointed to a follow-up article the news wire published on Wednesday, “Researchers slightly lower study’s estimate of drop in global income due to climate change.”

Those were lead articles for the aforementioned and many others, but, now, if they do something, it’s buried. The Times’s story was not on the front page when I cruised it yesterday. It’s buried back in Business.