Climate change and the global distribution of wealth

Lucas Chancel (), Cornelia Mohren, Philipp Bothe and Gregor Semieniuk
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Lucas Chancel: Sciences Po
Cornelia Mohren: Sciences Po
Philipp Bothe: World Inequality Lab, Paris School of Economics

Nature Climate Change, 2025, vol. 15, issue 4, 364-374

Abstract: Abstract Wealth inequality dynamics influence economic and social outcomes and stability. While climate change and climate policies affect both physical capital and financial assets, their impacts on aggregate wealth and its distribution remain underexplored. Preliminary calculations suggest that climate change and climate investments could have substantial effects on wealth inequality, although the direction of these changes remains uncertain. This Perspective builds on numerical insights, outlines a conceptual framework and proposes a research agenda aimed at advancing the understanding of global wealth inequality under climate change, highlighting the need for interdisciplinary collaboration on the issue.

Date: 2025
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Working Paper: Climate change and the global distribution of wealth (2025)
Working Paper: Climate change and the global distribution of wealth (2025)
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DOI: 10.1038/s41558-025-02268-3

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