How climate change will affect the world’s largest economies

The researchers looked at four scenarios that assume temperature increases of 1°C, 1.9°C, 2.4°C and 4.1°C by the year 2100. For example, with a warming of 1.5°C in 2100, global economic damage is expected to be $54 trillion, and for a warming of 1.5°C, $69 trillion.

In the worst-case scenario (4°C warming), there will be winners and losers. If this happens, then in 2048 India will suffer the biggest blow to GDP among the largest economies. The country suffers greatly from the effects of heat stress due to the low share of employment in the service sector. At the same time, in Canada, Great Britain, Germany, France and the United States, GDP will grow slightly.

The researchers note that they did not take into account several indicators of climate change that can affect the economy. For example, increasing the likelihood of costly natural disasters.

Full report is available here.