REM: Economic loss from climate crisis six times worse than previously thought

Recent research has unveiled alarming insights into the economic toll of the climate crisis, revealing consequences far graver than previously understood, and drawing parallels with the enduring hardships of perpetual warfare.

A ground-breaking study reported in the Guardian sheds light on the profound impact of rising global temperatures on wealth, painting a sobering picture of economic decline.

The findings demonstrate that even a modest 1-degree Celsius increase in global temperature triggers a staggering 12% decline in gross domestic product (GDP), surpassing earlier estimations and underscoring the urgency of climate action.

With temperatures already exceeding the 1-degree mark above pre-industrial levels and projected to soar by 3 degrees Celsius by the century's close, the economic ramifications loom ominously large, casting a shadow over future prosperity.