Global warming could decrease America’s GDP by more than 5% by 2100
TORNADOES KILLED at least 23 people in Alabama on March 3rd, causing catastrophic damage as winds of up to 270 km per hour ripped apart rural towns in Lee County. Such severe weather events, especially hurricanes and heat waves, are projected to become more intense in the coming decades as the temperature of the earth warms, according to afrom the United States Global Change Research Programme.
A team of climate and economic researchers led by Solomon Hsiang of the University of California, Berkeley, released a report in Science in 2017 that attempted to quantify the economic impact of various levels of warming. Current policies put the world on track to warm by anywhere between three and four degrees Celsius relative to pre-industrial levels. The scientists also examined warming as low as 1.5 degrees or as high as five degrees .
The scientists estimated that three degrees of global warming would cost the median American county 4% of its GDP, relative to what that area would otherwise produce without any additional warming, by the end of the century. This figure would rise to a loss of 6% or more with five degrees of warming, and fall to below 2% if the globe warms by 1.5 degrees or less. The impact on some individual counties could be much larger.
Why is warming likely to exacerbate regional inequality in America? The simplest explanation is that wealth tends to be correlated with latitude. Poor, rural parts of the South and Midwest rely on agriculture, and are already heavily exposed to the impact of heat on energy bills and heat-related mortality and crime. These factors matter far less in northern and western states.
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