"BERLIN - Damage to farming, infrastructure, productivity, and health from climate change will cost an estimated $38 trillion per year by 2050, German government-backed research finds, a figure almost certain to rise as human activity emits more greenhouse gases.
The economic impact of climate change is not fully understood, and economists often disagree on its extent.
Wednesday's study from the Potsdam Institute for Climate Impact Research (PIK), which is backed by the German government, stands out for the severity of its findings.
It calculates climate change will shave 17% off the global economy's GDP by the middle of the century.
"The world population is poorer than it would be without climate change," Potsdam climate data researcher Leonie Wenz, a co-author on the study, said. "It costs us much less to protect the climate than not to.""
Riham Alkousaa reports for Reuters April 17, 2024.
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