Global warming can cost $ 30 trillion annually

Global warming can cost $ 30 trillion annually

The results of the survey conducted by the New York University Policy Institute with 738 economists living in different countries and who are experts in the field of climate change were explained with the study titled “Economic Consensus in Climate Change”.

Accordingly, economists’ concerns about the costs of climate change increased after the last survey conducted in 2015.

About 74 percent of economists surveyed said that urgent and effective action is needed to reduce emissions. While 89 percent of economists noted that climate change will exacerbate income inequality between countries, 70 percent stated that inequality within countries will increase with the warming of the planet.

76 percent of the participants predicted that climate change will negatively affect the growth rate of the global economy as well as its economic damage.

Economists agreed that the predicted economic damage from climate change will reach $ 1.7 trillion a year by 2025 and about $ 30 trillion a year by 2075.

On the other hand, about 70 percent of the economists participating in the research stressed that the benefits of achieving the net zero emission target by the middle of the century would be more than the cost required to achieve that target.

65 percent of the participants predicted that the costs seen in wind and solar energy technologies in recent years will decrease similarly in other clean energy technologies.

“Economists are also optimistic about the ongoing decline in the costs of basic technologies. There is a clear consensus on the issue. ” used the expressions.

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