With global CO2 emissions currently amounting to roughly 50 billion tonnes of CC>2-equivalents, this amounts to a cost per tonne of carbon of about USD 660. Such policy changes, in essence achieving the ambitious objectives of the Paris Agreement of keeping global mean temperatures from rising significantly above 1.5°C, would thus generate benefits of only USD 12 trillion, or roughly 10% of global GDP. Think of Group A consisting of coal miners with a high tolerance for climate change and Group B consisting of fishermen in a small island country very sensitive to climate change.