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DOI: 10.15862/06NZOR325 (https://doi.org/10.15862/06NZOR325)

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Nikonorov S.M. Assessing the impact of climate change on the economy. Russian journal of resources, conservation and recycling. 2025; 12(3). Available at: https://resources.today/PDF/06NZOR325.pdf (in Russian). DOI: 10.15862/06NZOR325

Assessing the impact of climate change on the economy

Nikonorov Sergey Mikhailovich
Moscow State University named after M.V. Lomonosov, Moscow, Russia
E-mail: Nico.73@mail.ru
IRID: https://istina.msu.ru/workers/7343459
ORCID: https://orcid.org/0000-0002-8205-2140
RSCI: https://elibrary.ru/author_profile.asp?id=396481
WoS: https://www.webofscience.com/wos/author/rid/AAP-3397-2021
SCOPUS: https://www.scopus.com/authid/detail.url?authorId=56818917500

Abstract. This article examines the impact of climate change on the economy, focusing on the relationship between gross domestic product (GDP), greenhouse gas (CO₂) emissions, temperature variations, and precipitation. The topic is relevant because climate change is a global issue affecting all aspects of human activity. The economic impacts of climate change are already being felt in different parts of the world, and projections indicate that these impacts will further intensify in the future. For example, health care suffers from the consequences of climate change, as the increase in extreme weather events and ecosystem changes contribute to the spread of infectious diseases and an increase in heat strokes. This requires additional costs for health services and the adaptation of health infrastructure to new conditions. Therefore, understanding and quantifying these impacts are necessary for the development of effective mitigation and adaptation measures, which makes this study timely. The methodological framework is based on the analysis of panel data for the ten countries with the highest CO₂ emissions for the period 2009–2021. Fixed and random effects models were used to assess these relationships. The main results show that CO₂ emissions have a positive impact on GDP, which is explained by high industrial activity in countries with significant emissions. In contrast, increased precipitation has a negative impact on the economy, especially in regions vulnerable to extreme weather events. Temperature changes did not have a statistically significant impact on GDP. These results contribute to a better understanding of the economic impacts of climate change, highlighting the need to develop adaptive policies and strategic adjustments to mitigate its negative effects.

Keywords: climate change; CO₂ emissions; economic growth; environmental sustainability; economic impacts

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