Here’s how much the global economy stands to lose if the Paris climate pact is ignored
Unchecked emissions gains will hurt all economies by 2100 — slowing their retail sectors, crumbling infrastructure, destroying crops, or turning away tourists — researchers at the University of Cambridge and cooperating institutions reported Monday.
The researchers find that abiding by the Paris Climate Agreement, thereby limiting the temperature increase to 0.01°C per year, reduces the loss substantially, to a 1.07% reduction to inflation-adjusted per-capita GDP by 2100. “Cross-country studies are important for the big picture, but averaging data at national levels leads to loss of information in geographically-diverse nations, such as Brazil, China or the United States,” said report co-author Dr. Kamiar Mohaddes. “By concentrating on the U.S., we were able to compare whether economic activity in hot or wet areas responds to temperature fluctuations around historical norms in the same way as that in cold or dry areas within a single large nation.
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