A World Swallowed by the Climate Crisis: $1 Trillion in Annual GDP Evaporates, Developing Nations Bear the Brunt

Kim Young Min Reporter

sskyman77@naver.com | 2026-10-29 05:17:20

The negative impacts of climate change on health and economic activity are worsening at a much faster and steeper rate than a decade ago, according to a global assessment.

On the 27th (local time), according to the medical journal The Lancet, multiple major health threats, including heatwaves and droughts, have increased even more rapidly since the signing of the Paris Climate Agreement. Although international agreements were signed in Paris, France, in 2015 to limit the rise in the global average temperature and curb global warming, the analysis shows that the situation has actually deteriorated.

According to the report, the annual average number of heat-related deaths from 2016 to 2023 increased by about 36% compared to 2006–2015. In particular, 3 million heat-related deaths occurred globally over the eight years following the 2015 Paris Agreement. Marina Romanello, executive director of the "Lancet Countdown" health and climate research project, pointed out at a press conference, "This is equivalent to the entire population of Wales being wiped out by heatwaves in just eight years." The report stated that 2023 alone saw a record-high 710,000 heat deaths, with over 70% of those impacts linked to human-induced climate change.

The researchers also analyzed the economic ripple effects of climate change. Notably, as warming reduces worker productivity, it has caused a cost of over $1 trillion annually to the global economy over the past three years. The hardest-hit regions were Southeast Asia and Africa, estimated to have suffered losses equivalent to 3.9% and 3.2% of their Gross Domestic Product (GDP), respectively. This is significantly higher compared to Europe, which saw a 0.2% GDP loss, and the Americas, which experienced a 1.5% loss.

In addition to heatwave exposure, water-related risks are also growing. Last year, nearly 52% of the world's land experienced extreme drought for at least a month, the second-highest level on record. Such changes raise deep concerns as they threaten crops, drinking water, and sanitation facilities. The ongoing El Niño phenomenon is projected to further worsen drought conditions in various regions around the world through next year.

Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), pointed out in a statement, "The climate crisis is bringing serious and fatal consequences to human health." He added, "Various impacts are emerging, ranging from deadly heatwaves and floods to food insecurity, pollution, and the spread of disease."

[ⓒ Global Economic Times. 무단전재-재배포 금지]

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