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Published 1 month ago

Climate change damage could cost $38 trillion per year by 2050, study finds

  • The cost of climate damages is six times higher than mitigation measures to limit global warming to 2C, with projected annual costs of €38 trillion by 2050.
  • Even with drastic CO2 emissions reductions, climate change effects will reduce world income by 19% in 26 years.
  • In a worst-case scenario, annual losses could reach $59 trillion and incomes may be 60% lower, leading to a permanent income reduction for most regions.
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