New study calculates climate change’s economic bite will hit about $38 trillion a year by 2049

ASSOCIATED PRESS • April 17, 2024

Climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that’s not warming, with the poorest areas and those least responsible for heating the atmosphere taking the biggest monetary hit, a new study said. Climate change’s economic bite in how much people make is already locked in at about $38 trillion a year by 2049, according to Wednesday’s study in the journal Nature.