Climate change is a disaster for the world. Many countries could lose their wealth if the effects of climate change continue. If no action is taken to remedy it, America would lose the greatest wealth in all of its history.
The effects of climate change could generate a greater difference between poverty and inequality between the southern and midwestern states. What can happen to America's wealth?
Climate change creates poverty
A study has been carried out at the University of California Berkeley on the costs that can be derived from climate change if we continue on the current path. The researcher responsible for the study, Salomon Hsiang, says that if we continue at the current rate of greenhouse gas emissions, It may lead to the largest transfer of wealth from the poor to the rich in all of US history.. The analysis ensures that the poorest third of counties may "suffer economic damage that would cost up to 20% of their income if warming continues unabated."
Countries in the southern part and the lower part of the Midwest will be the ones that lose the most economic opportunities as they become poorer and warmer. On the other hand, the colder countries of the northern border and in the Rocky Mountains, would benefit from climate change as they would improve the costs of health, agriculture and energy.
The research team calculated that a one degree Fahrenheit rise in global temperatures would put a strain on the U.S. economy the approximate loss of 0,7% of its gross domestic product (GDP), although each degree of extra warming would cost more than the last.
Lastly, some climate projections were made for the future in which increases in sea level are expected and the need to move to safer areas for all people living in coastal cities.