In the version of this Article originally published, owing to a code error, the CSCC values for all income-dependent (that is, rich-poor) impact model specifications were incorrect, showing higher values relative to the preferred model rather than lower. These have now been recalculated for BHM SR RP, BHM LR RP and DJO RP, and Figs 1, 2b and 3b, as well as Supplementary Figs 2, 4–6 and 9, have been updated to reflect these recalculations. In addition, the text reading, “The GSCC tends to be similar in both pooled and rich/poor specifications of the damages model, with the exception of SSP3, in which the estimated GSCC is much higher in the rich/poor specifications. The DJO specification of the economic impact function yields significantly higher GSCC values” has been modified to reflect this recalculation and now reads, “The GSCC is always lower using the rich/poor specifications of the damages model with confidence intervals that, in most cases, extend into the negative SCC range. The DJO specification of the economic impact function, which also estimates distinct effects for rich and poor countries, yields significantly lower GSCC values.” The sentence beginning, “This results in higher (almost twice as much) global values of the SCC...” has also been modified to “In the case of the LR BHM specifications, this results in higher (almost twice as much) global values of the SCC...” The income thresholds and coefficients in the Supplementary Text, as well as the interpretation of the DJO sensitivity analysis results, have also been updated to reflect these changes. The authors thank Yixuan Zheng for identifying the code error.