14 April 2016
Climate change will wipe $2.5tn off global financial assets: study – Guardian
Losses could soar to $24tn and wreck the global economy in worst case scenario, first economic modelling estimate suggest
Climate change could cut the value of the world’s financial assets by $2.5tn (£1.7tn), according to the first estimate from economic modelling.
In the worst case scenarios, often used by regulators to check the financial health of companies and economies, the losses could soar to $24tn, or 17% of the world’s assets, and wreck the global economy.
The research also showed the financial sense in taking action to keep climate change under the 2C danger limit agreed by the world’s nations. In this scenario, the value of financial assets would fall by $315bn less, even when the costs of cutting emissions are included.
Read the whole article here: