Average person will be 40% poorer if world warms by 4C, new research shows

Economic models have systematically underestimated how global heating will affect people’s wealth, according to a new study that finds 4C warming will make the average person 40% poorer – an almost four-fold increase on some estimates. The study, by Australian scientists, says average global GDP per person will be reduced by 16% even if warming is kept to 2C higher, . This is much higher than previous estimates of a drop of about 1.4%. Even if governments around the globe hit their near-term and long-term climate targets, scientists now estimate global temperatures will rise by 2.1C. Criticisms have mounted in

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