India may lose three to ten percent of its gross domestic product (GDP) every year by 2100 because of climate change, as reported by the London-based global think tank Overseas Development Institute on June 8.
The report, titled “The Costs of Climate Change in India,” looked at the economic costs of climate-related risks in the country.
India is already suffering from the effects of one degree Celsius of global warming with extreme weather events and sea-level rise, the report said.
If the global temperature rises to 2°C over pre-industrialization levels, India will lose 2.6 percent of its GDP annually.
Extreme heatwaves, heavy rains, severe flooding, catastrophic storms, and rising sea levels will destroy the lives and assets around the country.
India has moved swiftly in improving income and living standards over the last three decades; but, without rapid global action, climate change could undo development gains over the past few decades.