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Reproduced from the Institute for Policy Integrity at the NYU School of Law; Chart: Axios Visuals

The vast majority of economists with expertise in climate change agree that the benefits of deep emissions cuts outweigh the costs, a survey shows.

Why it matters: Researchers at the left-leaning Institute for Policy Integrity at the NYU School of Law said they believe their new research is the "largest-ever expert survey on the economics of climate change."

Where it stands: The chart above shows one of the findings in the survey of responses from 738 economists who have published on climate in highly ranked journals. A few more...

  • 74% of economists surveyed agree that "immediate and drastic action" is needed.
  • 76% agree it's likely or extremely likely that climate change will affect the growth rate of the global economy in the long term.
  • 70% say it's likely or extremely likely that climate change will worsen economic inequality within most countries.

Yes, but: An obvious question is whether it's a biased sample, given that economists who publish on climate tend to support acting on the problem.

However, the report says respondents were "representative of a wide range of opinions, based on the diverse and often conflicting arguments made in their published articles."

Go deeper

Biden's big, global climate power play

Illustration: Sarah Grillo/Axios

The next month is the most important period for U.S. climate action in more than a decade, and possibly ever, longtime advocates and observers tell Axios.

Why it matters: With scientists issuing more urgent warnings that time is running out to curtail the consequences of global warming, the policy choices proposed through the end of April could reverberate for decades to come.

Ben Geman, author of Generate
Mar 29, 2021 - Energy & Environment

What to watch in Biden's infrastructure rollout

Illustration: Sarah Grillo/Axios

President Biden is expected to show his cards this week when it comes to energy and climate provisions he'll ask Congress to include in a big-dollar infrastructure package.

Why it matters: Biden campaigned on major investments in zero-carbon power, electric vehicle charging, climate-resilient infrastructure and more.

Biden to raise refugee admissions cap to 125,000

Afghan refugees arrive at Dulles International Airport after being evacuated from Kabul. Photo: Chip Somodevilla/Getty Images

The Biden administration will raise the refugee admissions cap to 125,000 for the next fiscal year beginning in October, the State Department confirmed in a statement Monday.

Why it matters: The move comes as the U.S. contends with resettling tens of thousands of Afghan refugees stateside, and as the world faces "unprecedented global displacement and humanitarian needs," the department wrote.