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Close examination of the global temperature record, together with other factors, does not support the global warming models' predictions – the thermal response to a doubling of CO2 is likely to be 'remarkably small'.

We shed new light on the macroeconomic effects of rising temperatures. In the data, a shock to global temperature dampens expenditures in research and development (R&D). We rationalize this empirical evidence within a stochastic endogenous growth model, featuring temperature risk and growth sustained through innovations. In line with the novel evidence in the data, temperature shocks undermine economic growth via a drop in R&D. Moreover, in our endogenous growth setting temperature risk generates non-negligible welfare costs (i.e., 11% of lifetime utility). An active government, which is committed to a zero fiscal deficit policy, can offset the welfare costs of global temperature risk by subsidizing the aggregate capital investment with one-fifth of total public spending.

We shed new light on the macroeconomic effects of rising temperatures. In the data, a shock to global temperature dampens expenditures in research and development (R&D). We rationalize this empirical evidence within a stochastic endogenous growth model, featuring temperature risk and growth sustained through innovations. In line with the novel evidence in the data, temperature shocks undermine economic growth via a drop in R&D. Moreover, in our endogenous growth setting temperature risk generates non-negligible welfare costs (i.e., 11% of lifetime utility). An active government, which is committed to a zero fiscal deficit policy, can offset the welfare costs of global temperature risk by subsidizing the aggregate capital investment with one-fifth of total public spending.

We shed new light on the macroeconomic and financial effects of rising temperatures. In the data, a shock to global temperature dampens research and development (R&D) expenditure growth. This novel empirical evidence is rationalized within a stochastic endogenous growth model. In the model, temperature shocks undermine economic growth via a drop in R&D expenditure. We examine three theoretical channels of the negative R&D expenditure effect of rising temperatures: the patent obsolescence channel, the labor productivity channel, and the capital quality channel. Temperature risk generates welfare costs of 93.14% of lifetime utility in this benchmark model. Moreover, the government can offset these welfare costs by subsidizing investment with 7.04% or R&D expenditure with 3.81% of total public spending, respectively. Alternatively, it can levy a lump-sum tax on households which finances 6.90% of total public spending, reduce corporate taxes by 3.62 percentage points, or increase labor taxes by 2.80 percentage points.

NASA's Goddard Institute for Space Studies (GISS) monitors global surface temperatures on an ongoing basis. Their analysis shows temperatures around the globe in 2011 compared to the average global temperature from the mid-20th century. The comparison shows how Earth continues to experience warmer temperatures than several decades ago.

Global temperatures have warmed significantly since 1880, the beginning of what scientists call the "modern record." At this time, the coverage provided by weather stations allowed for essentially global temperature data. As greenhouse gas emissions from energy production, industry and vehicles have increased, temperatures have climbed, most notably since the late 1970s. In this animation of temperature data from 1880-2011, reds indicate temperatures higher than the average during a baseline period of 1951-1980, while blues indicate lower temperatures than the baseline average.

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Read full article: Global Temperature Anomaly, 1880 - 2011

Global mean annual temperature has increased by more than 1 °C during the past 150 years, as documented by thermometer measurements. Such observational data are, unfortunately, not available for the pre-industrial period of the Common Era (CE), for which the climate development is reconstructed using various types of palaeoclimatological proxies. In this analysis, we compared seven prominent hemispheric and global temperature reconstructions for the past 2000 years (T2k) which differed from each other in some segments by more than 0.5 °C. Whilst some T2k show negligible pre-industrial climate variability ("hockey sticks"), others suggest significant temperature fluctuations. We discuss possible sources of error and highlight three criteria that need to be considered to increase the quality and stability of future T2k reconstructions. Temperature proxy series are to be thoroughly validated with regards to (1) reproducibility, (2) seasonal stability, and (3) areal representativeness. The T2k represents key calibration data for climate models. The models need to first reproduce the reconstructed pre-industrial climate history before being validated and cleared for climate projections of the future. Precise attribution of modern warming to anthropogenic and natural causes will not be possible until T2k composites stabilize and are truly representative for a well-defined region and season. The discrepancies between the different T2k reconstructions directly translate into a major challenge with regards to the political interpretation of the climate change risk profile. As a rule of thumb, the larger/smaller the pre-industrial temperature changes, the higher/lower the natural contribution to the current warm period (CWP) will likely be, thus, reducing/increasing the CO2 climate sensitivity and the expected warming until 2100.

Possible connections are studied between the monthly average values of the wind angular moment module and anomalу of the globally averaged surface temperature and change in radiative forcing. The existence of statistically significant positive linear correlation between these characteristics is shown. The results obtained are in accordance with the conclusions of the theory of similarity of planetary atmospheres.

A recent study found that coral reefs will face severe challenges even if average global warming temperature rise is restricted to 2 degrees Celsius. This is a rise that most countries are struggling to negotiate and meet. But reefs are very sensitive to temperature changes, experts fear the window of opportunity to prevent massive reef loss is very small.

Read full article: Nature and Animal Conservation