Climate change damages global economy
These are the new conclusions of a study called Climate Vulnerability Monitor: A Guide to the Cold Calculus of A Hot Planet
A scientific study, called “Climate Vulnerability Monitor: A Guide to the Cold Calculus of A Hot Planet”, shows that Climate change contributes to the deaths of nearly 400,000 people and costs more than $1.2 trillion a year. I attached the pdf of the executive summary of the report.
This study reports that the effects of Climate change are already being felt all over the World (rapid Arctic sea ice melting introducing cold, dull and rainy summers in parts of Europe and severe drought raising food prices in the US) and extreme weather episodes seem to be becoming the new normal, an always present danger which economic impact is already with us.
The study shows that:
– Extreme weather leads to more poverty, more malnutrition and more deseases.
– Air pollution caused by the use of fossil fuels is also separately contributing to the deaths of at least 4.5m people a year.
– By 2030, the cost of climate change and air pollution combined will rise from 2% (USA, Canada, China and Europe) to 11% (Emerging countries) of the country GDP.
– A 1°C rise in temperature is associated with 10% productivity loss in farming. This equals 4m tonnes of food grain, or $2.5bn.
The study was launched by the DARA group and the Climate Vulnerable Forum and is based on the work of more than 50 scientists, economists and policy experts.