Climate impacts set to cut 2050 global GPD by nearly a fifth [Video]

Climate change caused by CO2 emissions already in the atmosphere will shrink global GDP in 2050 by about $38 trillion, or almost a fifth, no matter how aggressively humanity cuts carbon pollution, researchers said Wednesday.

But slashing greenhouse gas emissions as quickly as possible remains crucial to avoid even more devastating economic impacts after mid-century, they reported in the journal Nature.

Economic fallout from climate change, the study shows, could increase tens of trillions of dollars per year by 2100 if the planet were to warm significantly beyond two degrees Celsius above mid-19th century levels.

Earth’s average surface temperature has already climbed 1.2C above that benchmark, enough to amplify heatwaves, droughts, flooding and tropical storms made more destructive by rising seas.

Annual investment needed to cap …