Climate change and global warming come with increasing economic cost to individuals
Record-breaking heat waves, severe floods and acute wildfires, exacerbated by climate change, carry a colossal price tag: an approximately 19% reduction in global income over just the next 26 years, a new study published Wednesday found. That financial gut punch won’t just affect big governments and corporations. According to the United Nations, the world is heading toward a gain of nearly 3 degrees of global warming in the next century, even with current climate policies and goals – and researchers say individuals could bear the economic burden. The researchers in Wednesday’s study, published in Nature, said financial pain in the short-term is inevitable, even if governments ramp up their efforts to tackle the crisis now.
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