Research by two New Zealanders has found the global costs of climate change are being underestimated by billions of dollars a year.
Victoria University's Ilan Noy and Rebecca Newman of the Reserve Bank found greenhouse gas-related storms, floods, heatwaves, droughts and wildfires around the world cost US$143 billion a year over the 20 years to 2019, and the damage is getting worse.
The researchers counted only the portion caused by climate change - not losses that would have happened anyway.
Climate change correspondent Eloise Gibson has been reading the study.
