The extent and impact of climate‐related extreme events depend on the underlying meteorological, hydrological, or climatological drivers as well as on human factors such as land use or population density. Here we quantify the pure effect of historical and future climate change on the exposure of land and population to extreme climate impact events using an unprecedentedly large ensemble of harmonized climate impact simulations from the Inter‐Sectoral Impact Model Intercomparison Project phase 2b. Our results indicate that global warming has already more than doubled both the global land area and the global population annually exposed to all six categories of extreme events considered: river floods, tropical cyclones, crop failure, wildfires, droughts, and heatwaves. Global warming of 2°C relative to preindustrial conditions is projected to lead to a more than fivefold increase in cross‐category aggregate exposure globally. Changes in exposure are unevenly distributed, with tropical and subtropical regions facing larger increases than higher latitudes. The largest increases in overall exposure are projected for the population of South Asia.

The Paris Climate Agreement aims to keep temperature rise well below 2 °C. This implies mitigation costs as well as avoided climate damages. Here we show that independent of the normative assumptions of inequality aversion and time preferences, the agreement constitutes the economically optimal policy pathway for the century. To this end we consistently incorporate a damage-cost curve reproducing the observed relation between temperature and economic growth into the integrated assessment model DICE. We thus provide an inter-temporally optimizing cost-benefit analysis of this century’s climate problem. We account for uncertainties regarding the damage curve, climate sensitivity, socioeconomic future, and mitigation costs. The resulting optimal temperature is robust as can be understood from the generic temperature-dependence of the mitigation costs and the level of damages inferred from the observed temperature-growth relationship. Our results show that the politically motivated Paris Climate Agreement also represents the economically favourable pathway, if carried out properly.

United States and Europe must adapt to climate-induced river flood risk at same level as India, Indonesia, and parts of Africa.

Every year, millions of people around the world are being displaced from their homes due to climate-related disasters. River flooding is responsible for a large part of this displacement. Previous studies have shown that river flood risk is expected to change as a result of global warming and its effects on the hydrological cycle. At the same time, future scenarios of socio-economic development imply substantial population increases in many of the areas that presently experience disaster-induced displacement. Here we show that both global warming and population change are projected to lead to substantial increases in flood-induced displacement risk over the coming decades. We use a global climate-hydrology-inundation modelling chain, including multiple alternative climate and hydrological models, to quantify the effect of global warming on displacement risk assuming either current or projected future population distributions. Keeping population fixed at present levels, we find roughly a 50% increase in global displacement risk for every degree of global warming. Adding projected population changes further exacerbates these increases globally and in most world regions, with the relative global flood displacement risk is increasing by roughly 350% at the end of the 21st century, compared to an increase of 150% without the contribution of population change. While the resolution of the global models is limited, the effect of global warming is robust across greenhouse gas concentration scenarios, climate models and hydrological models. These findings indicate a need for rapid action on both climate mitigation and adaptation agendas in order to reduce future risks to vulnerable populations.