Heat Waves due to Climate Change have Cost the World Economy Trillions so far

Massive economic losses brought on by extreme heat induced by human-driven climate change are an issue now, not only in the distant future.

According to a study published in the journal Science Advances, since the early 1990s, increasingly extreme heat waves brought on by global warming have already cost the global economy trillions of dollars, with the poorest and lowest carbon-generating countries suffering the most. Researchers from Dartmouth College coupled recently made available, comprehensive economic data for places all over the world with the average temperature for the hottest five days of the year for each region. They discovered that from 1992 to 2013, heat waves statistically correlated with changes in economic growth and that the negative effects of extreme heat on human health, productivity, and agricultural output cost an estimated USD 16 trillion.

The researchers note that the results highlight the urgent need for laws and technological advancements that safeguard citizens during the hottest days of the year, particularly in the world's hottest and most economically precarious nations.

"Accelerating adaptation measures within the hottest period of each year would deliver economic benefits now," said first author Christopher Callahan, a doctoral candidate in geography at Dartmouth. "The amount of money spent on adaptation measures should not be assessed just on the price tag of those measures, but relative to the cost of doing nothing. Our research identifies a substantial price tag to not doing anything."

The study is among the first to specifically examine how heat waves affect economic output, said senior author Justin Mankin, an assistant professor of geography at Dartmouth. "No one has shown an...