The global economy could lose between $150 trillion to $792 trillion by 2100 if nations fail to meet their current targets to cut greenhouse gas emissions, according to a new analysis in the journal Nature Communications.
The global economy could lose between $150 trillion to $792 trillion by 2100 if nations fail to meet their current targets to cut greenhouse gas emissions, according to a new analysis in the journal Nature Communications. In contrast, it would cost G20 countries just $16 trillion to $103 trillion to limit warming to 1.5 or 2 degrees Celsius, the analysis said.
The United States’ investment to avoid the effects of severe warming, for example, would be from $5.4 trillion to $33 trillion. The study, led by economists at the Beijing Institute of Technology, called such investments and policy decisions “a self-preservation strategy” for nations. It also found that if countries manage to meet their current targets, known as nationally determined contributions, most will actually experience economic gains in the long-run.
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