Drawing from an extensive analysis of over 1,600 regions worldwide spanning four decades, the researchers constructed a model to forecast future economic losses attributable to human-induced climate change. They emphasize that these losses, primarily stemming from temperature and rainfall variations, affect critical sectors like agriculture, labor, and infrastructure.

March marked the latest record-breaking month in a streak of ten consecutive months since June, with global temperatures soaring to unprecedented heights, according to the European Union's climate agency. 

The Paris Agreement, ratified in 2015, aims to limit the global temperature rise to well below 2 degrees Celsius, with a preferred target of 1.5 degrees Celsius, compared to pre-industrial levels.