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Failure to Tackle Global Warming Could Cost Trillions Submitted by Bill Becker on 17/Oct/2006 Message: LONDON, England, October 13, 2006 (ENS) - The world economy could suffer a $20 trillion hit by century's end if governments fail to address global warming, according to new report by two American economists. The report, released today, warns the figure - equal to six to eight percent of projected global economic output in 2100 - is likely an underestimate because it does not account for the cost of biodiversity loss or of unpredictable events such as extreme weather or the collapse of the Gulf Stream. |