According to data from Swiss Re, over the past ten years, natural disasters predominantly brought on by climate change have resulted in an annual loss of 0.3% of the global GDP.
In a broader sense, throughout the last fifty years, the world has experienced daily losses exceeding 200 million dollars due to weather, climate, and water-related catastrophes.
If the world does not act swiftly enough to achieve net zero emissions by the year 2050 and maintain high temperatures within the necessary levels, these numbers could increase even more.
The higher the temperatures, the more vulnerable the world, the more repercussions of climate change from natural disasters and others, which may incur the global economy, reaching 178 trillion dollars until 2070, according to the Deloit Foundation.
On the other side, there may be a tendency toward stepping up anti-warming initiatives as a safety net for the world economy from these effects, even though doing so may result in some short-term expenses that are not immediately necessary.
According to the Deloit Foundation, stepping up efforts to combat climate change could boost the global economy by $ 43 trillion over the course of the next 50 years. Additionally, since the transition to clean energy is at the heart of these efforts, the goal of keeping global temperatures below 1. 5 degrees Celsius will result in the preservation of 122 million energy-related jobs by the year 2050.
The global economy will suffer “tremendous losses” as a result of the climate.
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