Climate Change to Significantly Impact Canada's GDP
New economic research suggests that climate change will have a more substantial impact on Canada's GDP than initially thought.
A recent study by Timothy Neal, a senior lecturer at the University of New South Wales, reveals that the cost of inaction on greenhouse gas emissions could result in a 21% decrease in Canada's GDP by 2070.
The cost of inaction to curb growing greenhouse gas emissions could mean a 21 per cent hit to Canada’s GDP by the end of 2070.
Previous models underestimated the effects of climate change, as they only considered direct impacts of temperature and rainfall changes, neglecting other factors.
Author's summary: Climate change to reduce Canada's GDP by 21% by 2070.
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