Study Warns Climate Change Could Cost U.S. 10.5% of GDP by 2100

Photo: Pexels

Photo: Pexels

Originally Appeared in Presence Marketing News, September 2019
By Steven Hoffman

While there may have been some hope that certain countries could escape the brunt of global warming, a new study conducted by the National Bureau of Economic Research suggests that “virtually all” nations will be negatively impacted by climate change by 2100. “Using a panel data set of 174 countries over the years 1960 to 2014, we find that per-capital real output growth is adversely affected by persistent changes in the temperature above or below its historical norm,” the study states. The study also suggests that, on average, richer colder countries would lose as much income to climate change as poorer, hotter nations. “Our counterfactual analysis suggests that a persistent increase in average global temperature by 0.04°C per year, in the absence of mitigation policies, reduces world real GDP per capita by 7.22% by 2100,” said the study’s authors. The impact on the U.S. — which accounted for much of the research’s focus to compare economic activity in hot or wet areas — would be even greater, a loss of 10.5% of its GDP by 2100, according to the study. In related news, the United Nations (UN) in August issued an intergovernmental panel report on climate change claiming that 23% of global greenhouse gas emissions are attributed to agricultural activities. In the report, the UN concluded that humans cannot mitigate the effects of climate change without making drastic changes to the ways we grow food and use land. Organizations such as the Rodale Institute are promoting regenerative agriculture as a solution to sequester carbon and reduce the effects of climate change through agriculture.