Climate change to make an average person 24% poorer, study warns

Climate change and global warming have wreaked havoc across the globe with severe weather patterns, including floods, droughts and heat waves, observed worldwide.

Scientists have warned that climate change could become more destructive, adding that it could even lead to global economic meltdown.

The climate experts at University of Cambridge have claimed that an average will get 24 per cent poorer by 2100 amid worsening effects of global warming.

The study published in PLOS Climate stated, “We have shown that climate change reduced income in all countries, hot and cold, rich and poor.”

The study warned that living conditions in developed countries could worsen, resulting in higher unemployment, lower wages and closed businesses.

Experts said every sector will be affected by global warming, including transport, manufacturing, retail, and agriculture along with many more.

They urged governments to take action and cut emissions to protect economies from further economic losses.

The study analysed the impact of increasing temperatures on 174 countries from 2015 - 2100, noting that hotter and low-income people are at greater risk.

Researchers predicted a 30-60 percent higher economic loss in poor and hotter countries as compared to global average.

Experts have called for governments to abide by the Paris Agreement, the only way humans can reduce the impacts of man-caused global warming.

Paris Agreement, signed in 2015, is an international agreement to control and limit climate change. It aims to keep global temperature increases below 1.5C compared with pre-industrial levels.