Climate Change Shrinking Global GDP By Billions Of Dollar, Says Report
NDTV
Least developed countries experienced higher population-weighted GDP loss of 8.3 percent.
Climate change is already shaving billions off the world's economy, with developing countries hardest hit, according to a new report published Tuesday ahead of COP28 climate negotiations. The report by the University of Delaware estimated that impacts from human-caused climate change cut 6.3 percent from global economic output last year, when weighted across populations.
The figures reflect both direct consequences of climate change -- such as disruptions to agriculture and manufacturing, and reduced productivity from high heat -- as well as spill-over impacts on global trade and investments.
"The world is trillions of dollars poorer because of climate change and most of that burden has fallen on poor countries," said lead author James Rising of the University of Delaware.
