CNN's Samantha Delouya is reporting that climate change, according to a new report, will make you poorer.
A recent study published in Nature predicts that climate change will lead to a significant economic downturn, reducing global income by 19% over the next 26 years due to exacerbated weather conditions like heatwaves, floods, and wildfires. This economic impact will affect individuals, not just governments and corporations, with poorer countries facing larger income reductions. Immediate action to mitigate climate change could reduce long-term losses, although some short-term financial damage is unavoidable. Adaptation strategies could also play a crucial role in managing costs. For instance, shutting down electrical grids in California to prevent wildfires is costly but necessary. The study highlights the stark disparities in the economic impact of climate change, with poorer regions suffering more significantly. Additional research suggests that the lifetime cost of climate change for Americans born in 2024 could reach $500,000, affecting essential living costs like housing, food, and healthcare.
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Source: CNN
https://www.cnn.com/2024/04/17/business/climate-change-disasters-economic-cost/index.html
(This article was written with assitance from ChatGPT)
