This economics report examines the multifaceted impacts of global warming on the economy. It begins by outlining the scientific consensus on global warming, emphasizing the role of human activity, particularly carbon emissions, in driving rising global temperatures. The report then delves into the economic consequences, including inflation driven by infrastructure damage and resource scarcity, reduced productivity due to water shortages and extreme weather, and increased energy costs. These factors, along with damage to capital stock and reduced productivity, are shown to negatively affect various sectors, including agriculture and insurance. The report also evaluates various public policies aimed at mitigating climate change, such as the Climate Change Act 2008, renewable energy initiatives, the Kyoto Protocol, and the CRC Energy Efficiency Scheme, assessing their effectiveness in addressing the economic challenges posed by global warming. The analysis highlights the need for a comprehensive approach to managing the issue.