Olivia Rosane is a staff writer for Common Dreams.
The climate crisis will shrink the average global income 19% in the next 26 years compared to what it would have been without global heating caused primarily by the burning of fossil fuels , a study published in Nature Wednesday has found.
' However, Wenz told the paper that the paper's projected reduction was likely a 'lower bound' because the study still doesn't include climate impacts such as heatwaves, tropical storms, sea-level rise, and harms to human health. Unlike previous studies, the research predicted economic losses for most wealthier countries in the Global North, with the U.S. and German economies shrinking by 11% by mid-century, France's by 13%, and the U.K.'s by 7%.
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