Study finds climate change has already damaged New South Wales' economy and living standards
By
Timothy Neal
The bagel they save for the regulars. Don't skim, savour.
Summary
A new study analyzing the economic impact of climate change on New South Wales, Australia, finds that the current ~1.35°C of warming has already caused significant economic damage, including reduced productivity and lower standards of living. The research, released as part of a Net Zero Commission report, challenges the framing of climate change as a future problem, showing it is already a current and ongoing economic threat.
Key quotes
· 3 pulledClimate change is often framed as a problem for the future. But how much economic damage has today's current level of ~1.35°C of warming already caused?
We estimate climate change has already made Australians in one state much poorer, and more's to come.
It's time to recognise climate change for what it is. A new study shows it's a current and ongoing threat to our standard of living.
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