A revised analysis, including data and methodology, was made open access in August 2025 for the wider scientific community to engage with, though the authors emphasise that this has not yet undergone peer review (see PIK press release here). The revised analysis shows economic damages from climate change till mid-century are substantial and outweigh the costs of mitigation, they are mainly driven by temperature changes and affect regions with low incomes and low historical emissions most.

The authors and PIK take full responsibility for the original oversight which has led to the retraction. The authors would like to thank Thomas Bearpark, Dylan Hogan, Solomon Hsiang and Christof Schötz for bringing the issues to their attention. By resubmitting a new version of the paper, they hope to contribute to the further development of this important field.