Economics
Most people will see climate change delivered to them in the form of higher water, energy, and insurance bills. Why?
More droughts, higher temperatures, and more extreme weather will require lifestyle alterations ranging from what crops we grow to how we relax. Climate change expands the range of conditions we need to prepare for, and that preparation costs.
For example, 50% of Latin American agricultural lands are likely to be affected by desertification or salinization by the 2050s. Livestock and dairy productivity are likely to decline in response to increasing temperatures as well. With increased drought, flood, shrinking water supplies, and heat, farmers will have their hands full, and production in some regions could falter or fail.
Because climate change will affect all aspects of life, it is estimated that doing nothing will cost the equivalent of between 5% and 20% of global gross domestic product (GDP) every year for all of the forseeable future. In contrast, the costs for reducing greenhouse gas emissions are expected to be about 1% of global GDP per year. But those investments in making a more sustainable future need to occur in the next 10-20 years to avoid major economic, social, and ecological disruptions.