Climate change could cost the global economy as much as $9.87 trillion (£7.6tn) between 2011 and 2050 if nature losses and environmental damage are not reversed.
That's according to a new report from the WWF, the Global Trade Analysis Project and the Natural CapitalProject, which suggests a ‘business-as-usual’ scenario would damage the natural resources that contribute to the pollination of crops, coastal protection, water supply, timber production, marine fisheries and carbon sinks.
It suggests a reduced supply of these ecosystem services alone would cause a fall of 0.67% in annual global GDP by 2050, equivalent to an annual loss of $479 billion (£368bn) compared to baseline scenarios.
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