Report: Climate change set to cut average income by 19%

FILE - A construction worker drinks a cold beverage during a heat wave where temperatures rose to over 110 degrees Fahrenheit in Scottsdale, Ariz., July 28, 2023. A new study says climate change will cut incomes and also impact worker productivity.

Climate change will cut the average income of people around the world by one-fifth by 2050, according to a new report published in the journal Nature by the Potsdam Institute for Climate Impact Research.