Forget Trump’s Tariffs – Climate Change could Wipe 40% off World Economy

The financial cost of climate change has been significantly underestimated, according to new research saying it could cut the world’s GDP by almost half.  A recent study from UNSW Sydney factors in the full global reach of extreme weather, suggests the damage to the world’s economy could be far worse than previously thought.  Until now, economic models predicting the impact of climate change on global GDP suggested only mild to moderate harm.  The wider consequences – such as how extreme weather in one nation disrupts food supplies, trade and production elsewhere – have largely been ignored.  By correcting these flaws and incorporating global interconnections into their analysis, the team found that if the planet warms by more than 3°C by 2100, the global economy could shrink by 40%.