Studies show that average global incomes could be significantly reduced, perhaps by as much as
one-quarter by the end of the century, if limited or no action is taken to reduce carbon emissions.
That’s from the Bank of England and they at least should know better.
The actual worry is that incomes could be reduced by 25% from where they would be without climate change. We do also expect incomes to be some 3 to 5 times higher then than now. It’s the reduction in their being 3 or 5 times higher, not reductions from incomes now.