A New Study Warns That Even A 1-Degree Temperature Increase Could Reduce Global GDP by 12%

Climate change could be significantly more damaging for the world economy than previously thought. Even a one-degree Celsius rise in temperature could potentially result in as much as a 12 per cent reduction in global GDP, or about six times more than previous estimates, a new study has concluded.

The study by two economists, Adrien Bilal of Harvard University and Diego Kanzig of Northwestern University in the United States, states that the world could see “precipitous declines” in outputs, capital, and consumption if the temperature is allowed to increase unabated to reach the predicted three-degree Celsius rise by the end of the century.

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