Climate Adaptation Could Cost $1.2 Trillion a Year by 2050, MGI Estimates

McKinsey Global Institute estimates climate protection could cost $1.2 trillion annually by 2050 under a 2°C warming scenario, with less than one-fifth of needed investment in India and Sub-Saharan Africa judged deployment-ready. The estimate covers 20 measures to protect people and places from heat, wildfires, drought and flooding at standards common in developed economies. It combines annual operating expenses with capital costs spread over asset lifetimes, in 2020 dollars. The figures are rounded and describe a modeled scenario, not a forecast of actual spending.

Source: TokenPost