Based on a research in the journal Climatic Change, global food production could drop 0.5% within the incoming 7 years. And by mid-century, an astounding 2.3%.

And global welfare losses could go beyond $200 billion in 2050. All these brought about by one thing: Climate Change.

An Oilprice.com report says the "study ranks the UK, France, Germany, the US and Russia as medium-risk countries in terms of climate-change effects, while Bangladesh, India and the majority of African countries are listed as the most vulnerable economies."

Read more