Query: Climate change isn't increasing extreme weather damage costs.

Relevant passages:
Economic impacts of climate change <=SEP=> This article describes the economic impacts of climate change . Given the inherent nature of economic forecasting , which involves significant degrees of uncertainty , estimates of the results of global warming over the 21st century have varied widely . Many analyses , such as that of the Stern Review presented to the British Government , have predicted reductions by several percent of world gross domestic product due to climate related costs such as dealing with increased extreme weather events and stresses to low-lying areas due to sea level rises . Other studies by independent economists looking at the effects of climate change have found more ambiguous results around the range of net-neutral changes when all aspects of the issue are evaluated , though the issue remains intensely debated .

Heat wave <=SEP=> A heat wave is a prolonged period of excessively hot weather , which may be accompanied by high humidity , especially in oceanic climate countries . While definitions vary , a heat wave is measured relative to the usual weather in the area and relative to normal temperatures for the season . Temperatures that people from a hotter climate consider normal can be termed a heat wave in a cooler area if they are outside the normal climate pattern for that area .   The term is applied both to hot weather variations and to extraordinary spells of hot which may occur only once a century . Severe heat waves have caused catastrophic crop failures , thousands of deaths from hyperthermia , and widespread power outages due to increased use of air conditioning . A heat wave is considered extreme weather , and a danger because heat and sunlight may overheat the human body .

Effects of global warming <=SEP=> The effects of global warming are the environmental and social changes caused ( directly or indirectly ) by human emissions of greenhouse gases . There is a scientific consensus that climate change is occurring , and that human activities are the primary driver . Many impacts of climate change have already been observed , including glacier retreat , changes in the timing of seasonal events ( e.g. , earlier flowering of plants ) , and changes in agricultural productivity .   Future effects of climate change will vary depending on climate change policies and social development . The two main policies to address climate change are reducing human greenhouse gas emissions ( climate change mitigation ) and adapting to the impacts of climate change . Geoengineering is another policy option .   Near-term climate change policies could significantly affect long-term climate change impacts . Stringent mitigation policies might be able to limit global warming ( in 2100 ) to around 2 ° C or below , relative to pre-industrial levels . Without mitigation , increased energy demand and extensive use of fossil fuels might lead to global warming of around 4 ° C. Higher magnitudes of global warming would be more difficult to adapt to , and would increase the risk of negative impacts .

Climate change adaptation <=SEP=> Climate change adaptation is a response to global warming and climate change , that seeks to reduce the vulnerability of social and biological systems to relatively sudden change and thus offset the effects of global warming . Even if emissions are stabilized relatively soon , global warming and its effects will last many years , and adaptation will be necessary to the resulting changes in climate . Adaptation is especially important in developing countries since those countries are predicted to bear the brunt of the effects of global warming . That is , the capacity and potential for humans to adapt ( called adaptive capacity ) is unevenly distributed across different regions and populations , and developing countries generally have less capacity to adapt ( Schneider et al. , 2007 ) . Furthermore , the degree of adaptation correlates to the situational focus on environmental issues . Therefore , adaptation requires the situational assessment of sensitivity and vulnerability to environmental impacts . Adaptive capacity is closely linked to social and economic development ( IPCC , 2007 ) . The economic costs of adaptation to climate change are likely to cost billions of dollars annually for the next several decades , though the amount of money needed is unknown . Donor countries promised an annual $ 100 billion by 2020 through the Green Climate Fund for developing countries to adapt to climate change . However , while the fund was set up during COP16 in Cancún , concrete pledges by developed countries have not been forthcoming . The adaptation challenge grows with the magnitude and the rate of climate change .   Another response to climate change , known as climate change mitigation ( Verbruggen , 2007 ) is to reduce greenhouse gas ( GHG ) emissions and/or enhance the removal of these gases from the atmosphere ( through carbon sinks ) . Even the most effective reductions in emissions , however , would not prevent further climate change impacts , making the need for adaptation unavoidable ( Klein et al. , 2007 ) . In a literature assessment , Klein et al. ( 2007 ) assessed options for adaptation . They concluded , with very high confidence , that in the absence of mitigation efforts , the effects of climate change would reach such a magnitude as to make adaptation impossible for some natural ecosystems . Others are concerned that climate adaptation programs might interfere with the existing development programs and thus lead to unintended consequences for vulnerable groups . For human systems , the economic and social costs of unmitigated climate change would be very high .

Intergovernmental Panel on Climate Change <=SEP=> The Intergovernmental Panel on Climate Change ( IPCC ) is a scientific and intergovernmental body under the auspices of the United Nations , set up at the request of member governments , dedicated to the task of providing the world with an objective , scientific view of climate change and its political and economic impacts . It was first established in 1988 by two United Nations organizations , the World Meteorological Organization ( WMO ) and the United Nations Environment Programme ( UNEP ) , and later endorsed by the United Nations General Assembly through Resolution 43/53 . Membership of the IPCC is open to all members of the WMO and UNEP .  The IPCC produces reports that support the United Nations Framework Convention on Climate Change ( UNFCCC ) , which is the main international treaty on climate change . The ultimate objective of the UNFCCC is to `` stabilize greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic -LSB- i.e. , human-induced -RSB- interference with the climate system '' . IPCC reports cover `` the scientific , technical and socio-economic information relevant to understanding the scientific basis of risk of human-induced climate change , its potential impacts and options for adaptation and mitigation . ''   The IPCC does not carry out its own original research , nor does it do the work of monitoring climate or related phenomena itself . The IPCC bases its assessment on the published literature , which includes peer-reviewed and non-peer-reviewed sources .   Thousands of scientists and other experts contribute ( on a voluntary basis , without payment from the IPCC ) to writing and reviewing reports , which are then reviewed by governments . IPCC reports contain a `` Summary for Policymakers '' , which is subject to line-by-line approval by delegates from all participating governments . Typically this involves the governments of more than 120 countries .   The IPCC provides an internationally accepted authority on climate change , producing reports which have the agreement of leading climate scientists and the consensus of participating governments . The 2007 Nobel Peace Prize was shared , in equal parts , between the IPCC and Al Gore .