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What are the effects of climate change on the economy?
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The effects of climate change on the economy can be far-reaching and wide-ranging. Increasing temperatures and extreme weather events can hurt agricultural production and lead to food insecurity and food price volatility. Climatic change can also disrupt coastal and marine resources and ecosystems, leading to losses in fisheries, tourism and related services. Additionally, the rising sea levels caused by climate change can cause destruction of infrastructure and displacement of people, leading to economic losses. Finally, governments may have to incur additional costs for adaptation and mitigation of climate change impacts.