ESG & Investing

Climate Study Widely Used by Central Banks Retracted Over Errors

Swamped vehicles after flooding in Alfafar, Spain, in 2024. — Swamped vehicles after flooding in Alfafar, Spain, in 2024.
Photographer: Angel Garcia/Bloomberg

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By Ishika Mookerjee and Alastair Marsh

December 3, 2025 at 10:00 AM UTC

A widely-referenced study that calculated the impacts of climate change on the global economy has been retracted after criticism from peers.

Scientists from the Potsdam Institute for Climate Impact Research took down the paper — published in April 2024 in Nature — citing “substantial” issues.