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ARTICLE · 31 MARCH 2024

One Size Does Not Fit All: The Critical Limits Of Climate Scenario Modeling

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As insurance coverages and perils become more interconnected, forward-looking climate models will be critical to provide a more accurate view of the extent to which climate...

United KingdomEnvironment
David Singh
David Singh
Miguel Fonseca Dias da Silva
Miguel Fonseca Dias da Silva

As insurance coverages and perils become more interconnected, forward-looking climate models will be critical to provide a more accurate view of the extent to which climate change is intensifying natural catastrophes.

2023 was the planet's warmest year since records began in 1850, according to analysis by the National Oceanic and Atmospheric Administration (NOAA). [1] The NOAA reported that the temperature of the Earth's land and ocean surface last year was 1.18°C above the 20th century average. The past decade contains the 10 warmest years since 1850 and the average global temperature for 2023 exceeded the pre-industrial (1850-1900) average by 1.35°C.

The NOAA have estimated that there is a one-in-three chance that 2024 will be warmer than 2023, and a 99% chance that 2024 will rank among the top five warmest years.

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