This article discusses a report by the University of Delaware’s Gerard J. Mangone Climate Change Science and Policy Hub ahead of COP28. The report, titled “Loss and Damage Today: How Climate Change is impacting output and capital,” exposes the economic toll of climate change, particularly in developing nations. It reveals that globally, climate change has caused a 6.3% population-weighted GDP loss in 2022, equivalent to $1.5 trillion. India, in particular, experienced an 8% GDP loss in 2022 and a cumulative capital wealth decrease of 7.9% due to climate impacts.
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