Global warming of more than 3°C this century may wipe 40% off the world’s economy, new analysis reveals

4 Degree Celsius Rise In Temperature May Cut Global GDP By 40%: Study

A team of Australian researchers on Tuesday said that 4-degree Celsius rise in global temperatures would cut world GDP by around 40 per cent by 2100 - a sharp increase from previous estimates of around 11 per cent. New projections by the University of New South Wales (UNSW) Institute for Climate Risk and Response (ICRR) - published in the journal Environmental Research -- fixes an oversight in the current economic model underpinning global clima…

Average person will be 40% poorer if world warms by 4C, new research shows

Experts say previous economic models underestimated impact of global heating – as well as likely ‘cascading supply chain disruptions’Economic models have systematically underestimated how global heating will affect people’s wealth, according to a new study that finds 4C warming will make the average person 40% poorer – an almost four-fold increase on some estimates.The study, by Australian scientists, says average global GDP per person will be r…

Global warming of more than 3°C this century may wipe 40% off the world’s economy, new analysis reveals

To date, projections of how climate change will affect global GDP have been massively underestimated.