Understanding the consequences of human activities on the planet along with developing measures to mitigate these effects hold key place in current times. This can be made possible by examining different dimensions of the issue of climate change. In recent times, global economies are seriously threatened by climate change, having an impact on a number of macroeconomic indicators including infrastructure, agriculture, health, and level of productivity. This study examines the direct and indirect impacts of climate change on global economies. We particularly emphasize on the economic consequences associated with climate-related events and the differences in these impact across different locations. This study highlights that immediate concerted international action is needed to address climate change and its effects on the economies across the world.