The NYT told readers that the investments needed to curtail global warming would cost the world $10 trillion over the years from 2010 to 2030. It would have been helpful to also note that global GDP will be around $1500 trillion over this period, so that the estimated cost of these measures would be equal to approximately 0.7 percent of GDP. This means that they would impose approximately one sixth as much of a burden on the world economy as the defense department budget does on the u.S. economy.
If you enjoyed this article, please consider making a tax-deductible donation today. For over 30 years, The American Prospect has delivered independent reporting that exposes corporate power, investigates political corruption, and analyzes threats to our democracy. Unlike many media outlets, we’re not owned by billionaires or corporations—we’re powered by readers like you.
Today’s independent journalism faces unprecedented challenges. Your support makes our reporting possible and keeps our work free and accessible to all. Whether it’s $5 or $50, every contribution helps sustain our nonprofit newsroom.
Join our community of supporters and make a donation today to help keep independent journalism thriving.
Copyright 2025 | The American Prospect, Inc. | All Rights Reserved