The withdrawal came far too late as the paper had already shaped analysis by the U.S. Congressional Budget Office, influenced policy work at the World Bank, and been adopted by the Network for Greening the Financial System, a global coalition of central banks, as a key tool for stress-testing financial portfolios under European climate-risk rules.
The study claimed that global economic output would plunge by 62 percent by 2100 if high carbon emissions continued.
More from the Wall Street Journal:
The study examined historical data from some 1,600 regions worldwide over the past four decades to project how changes in temperature and precipitation would affect economic growth, including factors like agricultural yields, labor productivity and infrastructure.
