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Study Suggests Climate Change Could Affect Economic Growth Worldwide

Joe Arrigo is a resource development manager with Modis, where he is responsible for staffing engineering and IT firms in Northern California. A strong proponent of measures to reduce the harmful effects of climate change, Joe Arrigo previously worked for the rooftop solar energy company SolarCity.

In addition to ecosystems and agriculture, climate change could have a significant impact on global economic growth, at least according to the National Bureau of Economic Research. The Bureau recently published a study that suggests as much in the wake of record-breaking temperatures cited around the globe in July 2019.
The study was put together by researchers from the University of Southern California, the University of Cambridge, and the International Monetary Fund, and found that the expected average annual increase in global temperature of 0.04 degrees Celsius could reduce GDP per capita by more than 7 percent by 2100. According to the study, assuming no major policy changes are implemented, the US will register a GDP per capita decline of 10.5 percent in that time, while China and the European Union's GDP per capita will decline by 4.3 and 4.6 percent, respectively.
Countries most affected by rising temperatures, according to the study, are those that derive a significant amount of their GDP from agriculture. Recent excessive heat and rainfall in the US has decreased soybean production by 19 percent from the year prior. Corn production has also declined.

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