New study calculates climate change’s economic bite will hit 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’s not warming.
“Our analysis shows that climate change will cause massive economic damages within the next 25 years in almost all countries around the world, also in highly-developed ones such as Germany and the U.S., with a projected median income reduction of 11% each and France with 13%,” said study co-author Leonie Wenz, a climate scientist and economist.
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