38 trillion dollars in damages each year: World economy already committed to income reduction of 19 % due to climate change

38 trillion dollars in damages each year: World economy already committed to income reduction of 19 % due to climate change Based on empirical data from more than 1,600 regions worldwide over the past 40 years, scientists assessed future impacts of changing climatic conditions on economic growth and their persistence.

To date, global projections of economic damages caused by climate change typically focus on national impacts from average annual temperatures over long-time horizons.

A new study shows that efforts to reduce methane emissions are needed immediately if we are to meet global climate change goals. A key element of the 2015 Paris Agreement, a legally binding ...

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Study finds world economy already committed to income reduction of 19% due to climate changeEven if CO2 emissions were to be drastically cut down starting today, the world economy is already committed to an income reduction of 19% until 2050 due to climate change, a study published in Nature finds. These damages are six times larger than the mitigation costs needed to limit global warming to two degrees.
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