The study finds the world economy is already headed for a loss of 19% of income per capita around the globe within the next 26 years due to historical emissions that will continue to warm the planet., shines a new light on the patterns and severity of climate change's economic impacts, while bolstering key conclusions from other research.
For example, study coauthor Anders Levermann told Axios via email that "a change in annual mean temperature will yield a change in economic growth rate that persists for about 8-10 years."The new research is likely an underestimate of the economic impacts of climate change, since it does not include the impacts of sea level rise, stronger hurricanes, heat waves and human health impacts, along with other costly influences.
"The study is consistent with previous studies but finds even higher damages. It shows that also rich countries suffer enormous economic consequences of climate change," Levermann told Axios. "These arise not only from destruction due to weather extremes, but also through a perturbations of the economic flow which is less easily detected and thereby less easily adapted to and countered.
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Climate Change Will Cost Global Economy $38 Trillion Every Year Within 25 Years, Scientists WarnI am a senior reporter for the Forbes breaking news team, covering health and science from the London office. Previously I worked as a reporter for a trade publication covering big data and law and as a freelance journalist and policy analyst covering science, tech and health.
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Climate Change Will Cost Global Economy $38 Trillion Every Year Within 25 Years, Scientists WarnI am a senior reporter for the Forbes breaking news team, covering health and science from the London office. Previously I worked as a reporter for a trade publication covering big data and law and as a freelance journalist and policy analyst covering science, tech and health.
Source: Forbes - 🏆 394. / 53 Read more »
New study calculates climate change's economic bite will hit about $38 trillion a year by 2049A new study says climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that’s not warming, with the poorest areas and those least responsible for heat-trapping gases taking the biggest monetary hit.
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New study calculates climate change's economic bite will hit about $38 trillion a year by 2049A new study says climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that’s not warming, with the poorest areas and those least responsible for heat-trapping gases taking the biggest monetary hit.
Source: AP - 🏆 728. / 51 Read more »
New study calculates climate change's economic bite will hit about $38 trillion a year by 2049A new study says climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that’s not warming, with the poorest areas and those least responsible for heat-trapping gases taking the biggest monetary hit.
Source: ksatnews - 🏆 442. / 53 Read more »
New study calculates climate change's economic bite will hit about $38 trillion a year by 2049A new study says climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that’s not warming, with the poorest areas and those least responsible for heat-trapping gases taking the biggest monetary...
Source: ABC - 🏆 471. / 51 Read more »