Average person will be 40% poorer if world warms by 4C, new research shows

Experts say previous economic models underestimated impact of global heating - as well as likely 'cascading supply chain disruptions'Economic models have systematically underestimated how global heating will affect people's wealth, according to a new study that finds 4C warming will make the average person 40% poorer - an almost four-fold increase on some estimates.The study, by Australian scientists, says average global GDP per person will be reduced by 16% even if warming is kept to 2C higher, . This is much higher than previous estimates of a drop of about 1.4%. Continue reading...