The "damages" here come from reduced projected growth rates relative to a scenario without climate change. I.e. people will be richer than they are today in 205

The "damages" here come from reduced projected growth rates relative to a scenario without climate change. I.e. people will be richer than they are today in 2050, but poorer than they would have hypothetically been in a world without climate change. > So, what happens by 2050? The researchers' model suggests that "committed damages comprise a permanent income reduction of 19 percent on average globally," compared to where growth would have gotten us. Uncertainties mean the likely range is between 11 and 29 percent. Using a middle-of-the-road scenario for economic growth, this translates to an economic hit of $38 trillion (a figure measured in international dollars.)