Friday, May 29, 2015Friday, May 29, 2015

UN report estimates economic costs of global warming at $1.8 trillion

Published on Feb 28, 2014 12:51 PM

TOKYO (AFP) - Global warming will reduce the world's crop production by up to two per cent every decade and wreak US$1.45 trillion (S$1.83 trillion) of economic damage by the end of this century, according to a draft UN report, Japanese media said on Friday.

The document is the second volume in a long-awaited trilogy by the Inter-governmental Panel on Climate Change (IPCC), a Nobel-winning group of scientists, which is set to be issued next month after a five-day meeting in Japan, the Yomiuri Shimbun reported.

The trilogy is the IPCC's first great overview of the causes and effects of global warming, and options for dealing with it, since 2007.

According to the draft, if global temperatures rise by 2.5 deg C, the world's aggregated gross domestic production will fall by 0.2 to 2 per cent, the newspaper said.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!