S&P Global study estimates climate change is putting 4% of global GDP at risk

The figures from a report by S&P Global are sobering; estimating that climate change is putting 4% of global GDP at risk, highlighting that some regions could see significantly greater GDP losses by mid-century.

“For most countries, exposure to, and costs from climate change are already increasing. Over the past ten years, storms, wildfires, and floods alone have caused losses of around 0.3% of GDP per year globally, according to insurance firm Swiss Re.

The World Meteorological Organization also calculates that, on average, a weather-, climate-, or water-related disaster has occurred somewhere in the world every day for the last 50 years, causing 115 daily deaths and over $202 million in daily losses.”

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