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Major study on catastrophic cost of climate change retracted - but revised figures remain alarming

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Retraction Note: The economic commitment of climate change

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Climate change study that overestimated economic impact is pulled  but not before banks relied on it

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The Cost of Confused Climate Science

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A Huge Retraction, the Usual Playbook, and Reason for Optimism

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Is Climate Change an Existential Threat?

Nature retracted a climate study on Wednesday after the authors acknowledged substantial issues with their paper, which was originally published in April 2024 and had been accessed over 300,000 times and cited 168 times according to Clarivate's Web of Science.

Nature retracted a climate study on Wednesday after the authors acknowledged substantial issues with their paper, which was originally published in April 2024 and had been accessed over 300,000 times and cited 168 times according to Clarivate's Web of Science.

The study originally estimated a 62 percent decline in global economic output by 2100 under high emissions, but after researchers found inaccuracies in Uzbekistan's economic data from 1995 to 1999, the revised estimate fell to 23 percent without that country's data.

The study originally estimated a 62 percent decline in global economic output by 2100 under high emissions, but after researchers found inaccuracies in Uzbekistan's economic data from 1995 to 1999, the revised estimate fell to 23 percent without that country's data.

The Network for Greening the Financial System, a global network of central banks with more than 150 members across nearly 90 countries, had incorporated the study's damage forecast into risk tools used by banks to stress test portfolios and meet regulations.

The Network for Greening the Financial System, a global network of central banks with more than 150 members across nearly 90 countries, had incorporated the study's damage forecast into risk tools used by banks to stress test portfolios and meet regulations.

The authors, Maximilian Kotz, Anders Levermann and Leonie Wenz from the Potsdam Institute for Climate Impact Research in Germany, corrected underlying economic data and methodology, but acknowledged the changes were too substantial for a correction.

The authors, Maximilian Kotz, Anders Levermann and Leonie Wenz from the Potsdam Institute for Climate Impact Research in Germany, corrected underlying economic data and methodology, but acknowledged the changes were too substantial for a correction.

The revised analysis reduced the projected global income decrease by 2050 from 19 percent to 17 percent and lowered the annual climate damage cost estimate from $38 trillion to $32 trillion, according to the institute's updated calculations.

The revised analysis reduced the projected global income decrease by 2050 from 19 percent to 17 percent and lowered the annual climate damage cost estimate from $38 trillion to $32 trillion, according to the institute's updated calculations.

Despite the retraction, the authors and other scientists maintain there is broad scientific consensus regarding severe negative economic effects of climate change, with the revised findings still showing substantial impacts that outweigh mitigation costs.

Despite the retraction, the authors and other scientists maintain there is broad scientific consensus regarding severe negative economic effects of climate change, with the revised findings still showing substantial impacts that outweigh mitigation costs.

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