Experts say previous economic models underestimated impact of global heating – as well as likely ‘cascading supply chain disruptions’
Economic models have systematically underestimated how global heating will affect people’s wealth, according to a new study that finds 4C warming will make the average person 40% poorer – an almost four-fold increase on some estimates.
The study, by Australian scientists, says average global GDP per person will be reduced by 16% even if warming is kept to 2C higher, , much higher than previous estimates of a drop of about 1.4%.
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