Economic bite: Study calculates climate change damages will cost about $38 trillion a year by 2049
Climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that is not warming, with the poorest areas and those least responsible for heating the atmosphere taking the biggest monetary hit, a new study said. The economic bite of climate change in how much people make is already locked in at about $38 trillion a year by 2049, according to a study in the journal Nature by researchers at Germany’s Potsdam Institute for Climate Impact Research. By 2100 the financial cost could hit twice what previous studies estimate. “Our...
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