Quantifying climate change economic impacts


No one doubts [well, except for lots of Republicans] that climate change is upon us, and that it will cause a great many changes to the planet we inhabit.

While we’re all acquainted that things are set to get hotter and drier for most of us, and that seas are rising, those are just some of the broader impacts.

But we many be less aware that profound economic changes lie ahead, and they’ll be very costly indeed.

New research tries to set a price tag on some of them.

From the Thomson Reuters Foundation:

Rising temperatures caused by climate change may cost the world economy over $2 trillion in lost productivity by 2030 as hot weather makes it unbearable to work in some parts of the world, according to U.N. research published on Tuesday.

It showed that in Southeast Asia alone, up to 20 percent of annual work hours may already be lost in jobs with exposure to extreme heat with the figures set to double by 2050 as the effects of climate change deepen.

Across the globe, 43 countries will see a fall in their gross domestic product (GDP) due to reduced productivity, the majority of them in Asia including Indonesia, Malaysia, China, India and Bangladesh, researcher Tord Kjellstrom said.

Indonesia and Thailand could see their GDP reduced by 6 percent in 2030, while in China GDP could be reduced by 0.8 percent and in India by 3.2 percent.

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