Climate change may cost $38 trillion a year by 2049, study says

AXIOS April 18, 2024
Andrew Freedman

Climate change through the middle of this century is likely to be far costlier than thought — to the tune of $38 trillion per year, a new study finds.

Why it matters: The study finds the world economy is already headed for a loss of 19% of income per capita around the globe within the next 26 years due to historical emissions that will continue to warm the planet.

• The study, published Wednesday in the journal Nature, shines a new light on the patterns and severity of climate change’s economic impacts while bolstering key conclusions from other research.
• The $38 trillion figure is given in 2005 dollars.
• It is more than double the annual GDP of the entire European...

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