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Global warming of more than 3°C this century may wipe 40% off the world's economy, new analysis reveals

A new analysis projects that global warming exceeding 3°C this century may decrease world GDP by 40%.
Economic models underestimated climate change impacts by failing to incorporate global supply chain disruptions.
The study, by the UNSW Institute for Climate Risk and Response, integrates climate forecasts to assess extreme weather consequences.
Previous models suggested a milder 11% GDP cut, whereas a 4°C temperature increase could reduce income by 40%.
The new projections highlight the economic case for faster decarbonization to limit warming to 1.7°C, aligning with the Paris Agreement.

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dailyclimate.org

Lean Left

Global economic losses from climate change may be far worse than predicted, new study warns

Climate change could slash global income for the average person by 40% if temperatures rise 4C above pre-industrial levels, a new study shows, challenging decades of economic modeling.Graham Readfearn reports for The Guardian.In short:Australian researchers found that economic models have long underestimated the global cost of climate change, particularly due to extreme weather's ripple effects across supply chains.The study projects that even w…

19 hours ago

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juancole.com

Left

Global Heating of more than 3°C this Century may wipe 40% off the world’s Economy

By Timothy Neal, UNSW Sydney (The Conversation) – The damage climate change will inflict on the world’s economy is likely to have been massively underestimated, according to new research by my colleagues and I which accounts for the full global reach of extreme weather and its aftermath. To date, projections of how climate change will affect global gross domestic product (GDP) have broadly suggested mild to moderate harm. This in part has led to…

1 day ago

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Firstpost News

Lean Right

Global warming is not only about climate change, it may make you poorer by 40%: Study

The study, published in Environmental Research Letters, modified one of the most widely used economic models by integrating climate change forecasts to assess the broader consequences of extreme weather disruptions on global supply chains.

2 days ago·Mumbai, India

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The Conversation

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preventionweb.net

Center

Global warming of more than 3°C this century may wipe 40% off the world’s economy, new analysis reveals

To date, projections of how climate change will affect global GDP have been massively underestimated.

2 days ago

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13 News Now

Center

New study warns the Chesapeake Bay is heating up

A new study says the Chesapeake Bay could face marine heat waves for nearly a third of the year by 2100, impacting wildlife, water quality, and Virginia's economy.

2 days ago·Norfolk, United States

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Phys.org

Center

Global warming of more than 3°C this century may wipe 40% off the world's economy, new analysis reveals

The damage climate change will inflict on the world's economy is likely to have been massively underestimated, according to new research by my colleagues and me, which accounts for the full global reach of extreme weather and its aftermath.

2 days ago·United Kingdom

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