Nature magazine, a top British weekly scientific journal, retracted a study predicting climate change would cost an annual $38 trillion throughout the next 25 years. (FOX News Digital )
The study projected there would be an annual $19 trillion to $59 trillion in damages by 2050, with researchers citing an annual $38 trillion by 2049 in "middle-of-the road" estimates.
The study examined 1,600 regions across the globe and relied on 40 years of data to determine the "impacts of average temperatures on labour and agricultural productivity, of temperature variability on agricultural productivity and health, as well as of precipitation on agricultural productivity, labour outcomes and flood damages."
The data received attention from the media by environmentalists as another warning that climate change could ultimately upend daily life on the global scale. The data was far more aggressive than previous studies, including a 2023 World Economic Forum study that projected climate change would cost $1.7 trillion and $3.1 trillion per year by 2050, including the "cost of damage to infrastructure, property, agriculture, and human health."
The Nature magazine paper was retracted due to data discrepancies from one country: Uzbekistan, according to the outlet's retraction note. Economists who previously critiqued the study found that under a high-emissions scenario, removing Uzbekistan from the data set reduced the projected year 2100 GDP loss from about 62% to roughly 23%, bringing the estimate closer to earlier studies' findings, The New York Times reported.
The original projected 19% drop in global income was revised to 17%, according to the new information.
WHITE HOUSE DUBS DEM A SCAM VICTIM AFTER HE FUMES RUBIO WOULDN’T FUND CLIMATE TRIP
"The authors acknowledge that these changes are too substantial for a correction, leading to the retraction of the paper," the retraction note stated. "The authors intend to submit a revised version of the paper for peer review. If and when published, this retraction note will be updated to include a link to the new publication."
Nature provided Fox News Digital with a statement from the Potsdam Institute for Climate Impact Research, and a copy of the outlet's retraction note, when approached for comment Friday.
California Democratic Gov. Gavin Newsom traveled to Brazil for the COP30 World Climate Conference, touting his state's energy policies while the Trump administration skipped the event. (Mauro Pimentel/AFP via Getty Images)
U.S. Democrats have railed against Trump's climate messaging, including longtime political foe California Gov. Gavin Newsom claiming at the COP30 climate summit in Brazil in November that Republicans are ceding the clean energy market to China.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
"The United States of America is as dumb as we want to be on this topic, but the state of California is not. And so we are going to assert ourselves, we're going to lean in, and we are going to compete in this space," Newsom said during the summit.
https://www.foxnews.com/politics/climate-study-warning-38-trillion-a-year-hit-economy-yanked-faulty-data