This past May was the hottest on record ever, according to the National Oceanic and Atmospheric Administration. The average surface temperature around the world was almost 1°C above its average last century, and Alaska almost 2°C over its average. There’s no denying that climate change is already happening, so the question we need to start asking ourselves now is how is this going to impact our lives, and how can we prepare? Astute business analysts are asking the obvious question: how is this going to impact our economy? A new study highlighted by The Economist magazine looks at precisely this question and tries to calculate the economic cost of climate change. Examining everything from the threat of rising sea levels to coastal real-estate (from Miami to New York City), the economic impact on farming (from increased temperatures and decreased precipitation), to the economic impact of increasingly erratic weather patterns on businesses, homeowners and farming, The Economist takes an in-depth look at what climate change is going to mean for business in the coming decades. Read on to find out more.