The study estimates that climate change damage could cost the world $38 trillion per year by 2050. This figure is based on the analysis of the economic impact of climate change on various sectors, including agriculture, infrastructure, and human health. The analysis takes into account factors such as changes in temperature, precipitation patterns, and the frequency and intensity of extreme weather events, and their effects on crop yields, property damage, and the prevalence of disease.
The study emphasizes that these costs could be even higher if the effects of climate change are more severe than currently projected. It also highlights the importance of investing in mitigation and adaptation strategies to reduce the economic impact of climate change and protect vulnerable populations.