Economic Toll of Climate Change Far Worse Than Thought, Warns New Study

A comprehensive new study has found that the economic damage from climate change is six times worse than previously estimated, the Guardian reported in an article yesterday.

Researchers have determined that a 1°C increase in global temperature leads to a dramatic 12% decline in world gross domestic product (GDP) – a far higher impact than prior analyses, the article mentioned.

The study projects that a 3°C temperature rise by 2100 could result in “precipitous declines in output, capital and consumption that exceed 50%,” a staggering economic loss comparable to the devastation of a prolonged domestic war.

Even limiting warming to 1.5°C, a key global target, would still incur GDP losses around 15%. The researchers emphasize that the interconnected nature of climate impacts is driving these substantial economic consequences worldwide.