Forget Trump’s tariffs – climate change could wipe 40% off world economy

The financial cost of climate change has been significantly underestimated, according to new research which says it could cut the world’s GDP by almost half.The stark warning comes from a team led by Timothy Neal at UNSW Sydney. Their study, which factors in the full global reach of extreme weather, suggests the damage to the world’s economy could be far worse than previously thought.Until now, economic models predicting the impact of climate change on global GDP have suggested only