New study warns climate change will cause 25% hit to GDP by 2100

10% GDP fall by 2050

New research has highlighted how the impact of climate change on long-term economic growth could run into trillions, reducing GDP by a quarter.

According to the CDP, a non-profit that runs the global environmental disclosure platform, and University College London (UCL), the economic and non-economic costs of climate change reach $31trn a year if emissions are not urgently reduced. Accounting for these damages will lead to a 10% reduction in GDP growth rate by 2050 and 25% by 2100. Rathbones' Crossman: Covid-19 could lead to a more responsible capitalism By contrast, a Paris Agreement-aligned scenario - where temperatures are kept to 2°C above pre-industrial levels, results in these damages peaking at $1.8trn a year in 207...