climate change harms the global economy

Numerous studies demonstrate that climate change significantly harms the global economy. A recent study by economists from Harvard and Northwestern universities in the United States, published this week, indicates that every one-degree increase in global temperature could result in a 12% reduction in global GDP. The economic damages might be six times greater than previously estimated, with each ton of carbon dioxide emitted into the atmosphere potentially causing social costs exceeding $1,000.

Although all countries worldwide will be affected by the damages of climate change, the extent of the impact may vary by region.

Every one-degree increase in global temperature is projected to result in a 12% reduction in global GDP. However, the adverse effects on our planet extend beyond just economic damage. These impacts manifest in various forms, including:

– More frequent and severe weather events
– Rising sea levels
– Disruption of ecosystems
– Loss of biodiversity
– Increased health risks
– Threats to food and water security

Addressing climate change is crucial to mitigate these detrimental effects and ensure a sustainable future for our planet.