Climate crisis: A $38tn wake-up call – Mark Gongloff

Climate crisis: A $38tn wake-up call – Mark Gongloff

The toll of unchecked global warming will slash global income by a staggering 19% by 2049, a loss totalling $38 trillion annually.
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In a world teetering on the brink of irreversible economic decline, the Potsdam Institute for Climate Impact Research delivers a sobering revelation: the toll of unchecked global warming will slash global income by a staggering 19% by 2049, a loss totalling $38 trillion annually. This dire forecast, reminiscent of a dystopian election campaign, underscores the urgent need to transition away from fossil fuels. Yet, amidst the bleak prognosis, a glimmer of hope remains: we still wield the power to avert catastrophe and secure a prosperous future for all.

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By Mark Gongloff

Imagine you were running for king of the world on a platform of slashing economic growth by 20% forever. You'd be lucky to get your own family to vote for you. And yet humanity insists on running the global economy on fossil fuels that are doing exactly that sort of damage. The good news is that we still have time to vote them out before they do even more.

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