Climate Change Costs Revisited: Study Delivers Projections 'Six Times Bigger Than Previous Estimates'

Climatologists have warned of catastrophic consequences if global temperatures continue to rise. But macroeconomists have mostly told a less alarming story, predicting modest reductions in productivity and spending as the world warms. Finally, the pair emerged with an economic forecast that was more worrying than previous predictions. The world is already 1°C warmer than in pre-industrial times. The new analysis found that every additional 1°C increase means a 12 % hit to global GDP, with losses peaking just six years after the warmer temperature was recorded. (Christy DeSmith, Harvard Gazette, more at phys.org)