Climate change could shrink global income by 24%: Study
A new study from Cambridge and the IMF says if we don't act on climate change, the world's average income could drop by up to 24% by 2100.
This isn't just a future problem—between 1960 and 2014, warming of just 1.2°C already cost the world about $1.6 trillion in lost income.
Hot and cold countries both affected
Researchers found that both hot and cold countries will feel the pinch: India could lose over a quarter of its income, while even cooler places like Canada (31% loss) and Sweden (20%) aren't spared.
Quick adaptation could soften these blows—for India, losses might drop to below 5% with fast action.
Paris Agreement could help, but only if we act fast
Sticking to the Paris Agreement goals could limit these losses—and maybe even give global GDP a tiny boost compared to doing nothing.
But without major emissions cuts and real adaptation plans, every economy stands to lose big as climate impacts grow.