
Climate Change to Shrink Global GDP by Almost a Fifth by 2050, Study Warns
In a stark warning, researchers revealed on Wednesday that climate change caused by carbon dioxide emissions already present in the atmosphere will lead to a substantial contraction of global GDP by 2050, amounting to nearly US$38 trillion, or almost a fifth of the total.
Published in the journal Nature, the study underscores the urgent need for aggressive carbon emission reduction efforts to mitigate the economic fallout. Even under the most aggressive emission reduction scenarios, the researchers caution that significant economic losses are inevitable.
The study predicts that economic repercussions from climate change could escalate to tens of trillions of dollars annually by 2100 if global warming exceeds two degrees Celsius above pre-industrial levels. With Earth's average surfac...