By Ciara Linnane

Florida and Texas are the two states expected to suffer the greatest economic damage from climate change, according to a new study from Science magazine.

The study used a model that aimed to calculate the future impact on each state’s gross domestic product (GDP) from events including hurricanes, storm surges, changes in agricultural yields, changing electricity demands, changes in mortality rates, changes to the labor supply, rising sea levels and rising crime rates.

Researchers calculated that Florida will lose $100.9 billion from GDP due to climate change, while Texas will lose $100.7 billion.

California comes in third place at an expected impact of $59.6 billion. California has recently suffered a severe drought, as well as devastating wildfires, that caused billions of dollars in damages to homes. New York, still recovering from the damage caused by Hurricane Sandy in 2012, comes in fourth place with estimated losses of $54.7 billion.

Continue reading at MarketWatch…

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Areas of Focus: Climate Change
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Climate Change
Climate change is an urgent global challenge. EPIC research is helping to assess its impacts, quantify its costs, and identify an efficient set of policies to reduce emissions and adapt...
Climate Economics
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Climate Economics
Climate change will affect every sector of the economy, both locally and globally. EPIC research is quantifying these effects to help guide policymakers, businesses, and individuals working to mitigate and...