The paper is here:

Using an empirical approach that provides a robust lower bound on the persistence of impacts on economic growth, we find that the world economy is committed to an income reduction of 19% within the next 26 years independent of future emission choices (relative to a baseline without climate impacts, likely range of 11–29% accounting for physical climate and empirical uncertainty). These damages already outweigh the mitigation costs required to limit global warming to 2 °C by sixfold over this near-term time frame and thereafter diverge strongly dependent on emission choices.

  • @oakey66
    link
    57 months ago

    It already is.

    • Electricity is more expensive because of the wild swings in weather.

    • food is more expensive because of flooding and eats around the world (some tied to climate change). Example: chocolate, bananas, water.

    • Housing is more expensive. Hard to tell if this is climate related but certainly have been seeing extreme weather events all across the country which could drive people to move.

    • Insurance for housing is through the roof. Insurance companies have been paying through the nose for events in coastal cities. Some places in Florida are un-insurable.