AP New's Seth Borenstein is reporting on the economic risk of Climate Change.
A new study predicts that climate change will cost the global economy about $38 trillion annually by 2049, largely due to average temperature increases that impact agriculture and labor productivity. This economic strain will be felt more severely in regions like the southeastern and southwestern United States, and southern Europe, while Arctic-adjacent areas may actually benefit. The study, which examined 1,600 global areas and multiple climate factors, indicates that poorer countries will suffer significantly greater income losses compared to wealthier nations, highlighting the injustice associated with climate impacts. Furthermore, while immediate emission reductions may only slightly mitigate short-term economic losses, substantial cuts in carbon emissions could drastically reduce financial damages by the latter half of the century, aligning with the goals of the 2015 Paris climate agreement.
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Source: AP News
https://apnews.com/article/climate-change-damage-economy-income-costly-3e21addee3fe328f38b771645e237ff9
(This article was written with assistance from ChatGPT)
