Climate change damage could cost $50 trillion a year by 2050, study finds

BERLIN – Damage to farming, infrastructure, productivity and health from climate change will cost an estimated US$38 trillion a year by 2050, a German government-backed research finds, a figure almost certain to rise as human activity emits more greenhouse gases.

It calculates climate change will shave 17 per cent off the global economy’s GDP by the middle of the century. While previous studies have concluded climate change could benefit some countries’ economies, PIK’s research found almost all would suffer – with poor, developing nations the hardest hit.

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