A shocking new study suggests that climate change is going to hammer us financially pretty soon.
A new study suggests that our economy is in big trouble because of Global Warming.
Scientists and world leaders have long warned that climate change threatens to create catastrophic storms, rising waters, severe droughts, and other terrible things — but it may hit us square in the pocketbook, a new study is claiming according to a Fortune report.
The study, published in the journal Nature and spearheaded by Standford University and University of California Berkeley researchers, suggests that there is actually an ideal temperature for economic growth — a “Goldilocks” temperature if you will — and it is 55 degrees Fahrenheit, or 13 degrees Celsius. At this point, GDP growth is at its highest, and any increase or decrease will have a big negative impact.
The study is based on data from the World Bank. It examined 166 countries in the world in the last 50 years to determine how GDP lined up with the global temperature.
The researchers noted that the largest economies in the world tend to have temperatures about in this range, which seems to be the optimal temperature for human productivity.
And the difference is by no means slight when that temperature rises, as it is projected to do due to climate change. If, for example, temperatures were 7 degrees Fahrenheit higher than normal one year, there would be a loss of 1 percent of the GDP.
That sounds like a large increase in temperature, but that’s what is projected to happen by 2100, not to mention all of the fluctuating temperatures in between now and then that could result in periodic losses in productivity.
In all, the world could be 23 percent poorer than it would be without climate change if things keep going the way they are.
The findings were published on Nature’s website, which can be found here.