Climate change’s damage cost about $38 billion a year by 2049

The study by scientists at Germany's Potsdam Institute for Climate Impact Research said climate impacts could cost the global economy around $38 trillion a year by 2049.

• Its estimation of damage is based on projected temperature and rainfall trends, but does not take into account extreme weather or other climate-related disasters such as forest fires or rising sea levels.
• It is also only based on emissions already released, even though global emissions continue to rise at record levels.
• If emissions continue at today's rate - and the average global temperature climbs beyond 4C - the estimated economic toll after 2050 amounts to a 60% income loss by 2100, the findings suggest.
• Limiting the rise in temperatures to 2C would contain those losses at an average of 20%.