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.
Oh, and destroy the only planet you’ve ever known or will know.
But, yes, you will also have less purchasing power.
This speaks directly to the “it would cost too much to do anything” people — it’s a lot less costly to phase out fossil fuels than not.
Tell that to literally every corporation.
We have. Do. It’s been fifty years and, uh, not really a lot of progress there.
Every goddamned thing has been making me poorer for years - throw this one on a pile over there… I literally can’t remember the last time I felt richer.
It already is.
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Electricity is more expensive because of the wild swings in weather.
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food is more expensive because of flooding and eats around the world (some tied to climate change). Example: chocolate, bananas, water.
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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.
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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.
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Habitable land will get scarce and pricey. Food is getting harder to grow and plant diseases are increasing. People will hoard land and food, driving prices up.
People must learn to live smaller, and like it.But lemme guess: it will make the rich even more rich? Like every catastrophe?
LMAO it literally can’t make me any poorer
There i thought climate change would make us rich …
