How climate change is damaging the global economy
If your country depends on natural resources a lot, expect to have a severe economic impacts due to climate change. Economic impact of climate change is costing the world more than $1.2 trillion a year, wiping 1.6% annually from global GDP.
The impacts are being felt most intensely in developing countries where damage to agricultural production from extreme weather associated with climate change. Add to that this issue is contributing to deaths hundreds of people yearly from malnutrition, poverty and their associated diseases.
The impacts are being felt most intensely in developing countries where damage to agricultural production from extreme weather associated with climate change. Add to that this issue is contributing to deaths hundreds of people yearly from malnutrition, poverty and their associated diseases.
How climate change affects the economy
Damage the property and infrastructure: Sea-level rise, floods, droughts, wildfires, and extreme storms require extensive repair of essential infrastructure such as homes, roads, bridges, railroad tracks, airport runways, power lines, dams, levees, and seawalls. Millions of dollars must be paid in order to repair what had been destroyed by climate change.
Lost productivity: Disruptions in daily life related to climate change can mean lost work and school days and harm trade, transportation, agriculture, fisheries, energy production, and tourism. Severe rainfall events and snowstorms can delay planting and harvesting, cause power outages, growl traffic, delay air travel, and otherwise make it difficult for people to go about their daily business. Climate-related health risks also reduce productivity, such as when extreme heat curtails construction, or when more potent allergies and more air pollution lead to lost work and school days.
Mass migration and security threats: climate change is likely to increase the number of "climate refugees" those people who are forced to leave their homes because of drought, flooding, or other climate-related disasters. Mass movements of people and social disruption may lead to civil unrest, and might even spur military intervention and other unintended consequences.
The natural catastrophe cost the governments- especially those of developing countries- billions of dollars yearly. The climate change threats started to cause present threats to the whole world and the economic impacts is already with us. Think about reducing climate change in order to save your health, environment, and pocket on the same time. Read more.
The natural catastrophe cost the governments- especially those of developing countries- billions of dollars yearly. The climate change threats started to cause present threats to the whole world and the economic impacts is already with us. Think about reducing climate change in order to save your health, environment, and pocket on the same time. Read more.