US EditionGlobal 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.
38 Articles
38 Articles
New Study Warns Global Heating Could Slash Average Wealth by 40 Percent - One Green Planet
New study finds the average person could be 40% poorer if global warming hits 4°C—far worse than previous models suggested. The post New Study Warns Global Heating Could Slash Average Wealth by 40 Percent appeared first on One Green Planet.
Previous research has very likely underestimated the damage that climate change will cause to the world economy, and it could actually be much greater.
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…
If global warming were to increase by 4°C, a person with an average income risks becoming 40% poorer, or almost four times more than...
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…
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