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Even if CO2 emissions were to be drastically cut down starting today, the world economy is already committed to an income reduction of 19 per cent until 2050 due to climate change, a new study published in “Nature” finds.
"Without liberty, law loses its nature and its name, and becomes oppression. Without law, liberty also loses its nature and its name, and becomes licentiousness." — James Wilson (1790)
Climate change damage worldwide will cost approximately $38 trillion annually by 2050, according to a new study.
Climate change will inflict losses to the global economy worth an annual $38 trillion by 2049, as extreme weather ravages agricultural yields, harms labor productivity and destroys infrastructure, according to researchers at the Potsdam Institute for Climate Impact Research (PIK). Planetary warming will result in an income reduction of 19%…
PARIS -- Climate change caused by carbon dioxide emissions already in the atmosphere will shrink global gross domestic product in 2050 by about $38 trillion, or almost a fifth, no matter how aggressively humanity cuts carbon pollution, researchers said Wednesday. But slashing greenhouse gas emissions as quickly as possible remains crucial to avoid even more devastating economic impacts after midcentury, they reported...