The thawing of permafrost in the Arctic will accelerate global warming and, according to a new study by Nature Research, could contribute $ 70 trillion to global climate change.
The report claims that a feedback mechanism along with the failure of the countries will lead to the achievement of the goals of the Paris Climate Agreement and the loss of heat-deflecting white ice – global warming will increase by almost 5 percent.
This scenario could raise the global cost of climate change to $ 70 trillion by 2300, according to the study, which was published in Nature.
The researchers also say that the sum of $ 70 trillion is ten times higher than the expected benefits of the melting Arctic, such as access to minerals or better shipping routes. [1
By comparison, US nominal GDP, which represents the value of all goods and services, is estimated at $ 20 trillion this year. The European Union's GDP last year was $ 18.8 trillion, more than one fifth of the world economy.
Scientists have warned for years of an increasingly warm climate that will have global consequences that could include sea-level rise, powerful cyclones and more widespread forest fires and droughts.
"It's daunting to have that in front of us," Dmitry Yumashev of Lancaster University told The Guardian. "We have the technology and policy tools to limit warming, but we are not moving fast enough."
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