Global warming will cause 40% damage to the world economy: study.

A group of Australian researchers found that the economic consequences of climate change could be much more serious than previously anticipated. According to new research, an increase in global temperature by 3 degrees Celsius by the end of the century could lead to a 40% reduction in global GDP per capita. This information was published by the journal Environment Research Letters, referencing IOPscience.

The economy is influenced by many factors related to climate change, and the most obvious consequences are associated with extreme weather events. Droughts can lead to crop failures, while storms and floods can cause destruction and reduce supplies. Global warming also increases food prices due to abnormal heat.

According to the study 'Review of Macroeconomic Damage from Strong Warming', published in the journal Environment Research Letters, high temperatures negatively affect worker productivity, health, and contribute to the spread of diseases, which can lead to mass migration and conflicts. Most previous studies predicted that the negative impact on the world economy would be small, even with a temperature increase of 4°C - ranging from 7% to 23%.

Researchers noted the main difference in their study is that it takes into account the interconnectedness of the global economy. Weather events caused by climate change not only destroy the economy of the countries where they occur, but also influence other countries.

It was previously established that the economy of cold regions, particularly Northern Europe, benefits from rising global temperatures. However, the new research showed that the impact on the world economy will be so severe that all countries will suffer.

According to the research results, the optimal level of global warming, where short-term costs are compensated by long-term benefits, is 1.7°C. This aligns with the goal of the Paris Agreement.

An increase in global temperature has consequences not only for the present but also for future generations. The sooner people understand the seriousness of the climate change issue, the faster necessary measures will be taken to prevent potentially devastating consequences.