Economic damages from climate change could cost $1.7 trillion per year by 2025

And $30 trillion per year by 2075 - according to a recent survey of more than 2,000 economists.

This could be 6x higher than previously thought.

Economic models of climate change may have substantially underestimated the costs of continued warming, according to a new study involving UCL researchers.

The study shows that by 2100, global GDP could be 37% lower than it would be without the impacts of warming, when taking the effects of climate change on economic growth into account. Without accounting for lasting damages - excluded from most estimates - GDP would be around 6% lower, meaning the impacts on growth may increase the economic costs of climate change by a factor of six.