A new study predicts $38 trillion in climate change damages by 2049, regardless of short-term emission reduction efforts.

• This could lead to a 60% decrease in global income.
• International organizations like the World Bank are increasing lending for climate projects but say more action is needed.
• Corporations like JP Morgan Chase are prioritizing profits and believe renewable energy isn’t a good investment.
• Despite the high cost of climate change, businesses are taking a gamble, hoping they won’t be impacted.

Read more at The New Republic website.