The value of human life in global warming impacts

Abstract

A recent article in Mitigation and Adaptation Strategies for Global Change by Fankhauser and Tol makes monetary estimates of potential global warming damages that assign higher value to each life lost in wealthy countries as opposed to poor ones. Regardless of how much sense such a procedure may make to GDP-oriented economists, it is morally unacceptable to most of the world and needlessly damages efforts to build support for any global warming mitigation and adaptation strategies that may be proposed. A better solution would be to use a money value of zero for human life losses and report separately the monetary and human life costs of warming (and benefits of mitigation).