How the climate crisis will crash the economy by Joel Makower
Lately, a steady march of searing heat, ruinous floods, horrific wildfires, unbreathable air, devastating hurricanes and other climate-related calamities has been traversing our screens and wreaking havoc to national and local budgets. And we’re only at 1C of increased global temperature rise. Just imagine what 2C or 3C or 4C will look like, and how much it will cost.
The financial climate, it seems, has been as unforgiving as the atmospheric one.
Climate change is already impacting or is anticipated to impact nearly every facet of the economy, including infrastructure, agriculture, residential and commercial property, as well as human health and labor productivity. Over time, if significant action is not taken to check rising global average temperatures, climate change impacts could impair the productive capacity of the economy and undermine its ability to generate employment, income and opportunity.
What are your thoughts on this article about the potentially drastic impact climate change may have on the economy?
Where will you invest if we do begin to reach more climate crises on a global level?