Category: ARTICLES_REPORTS_GLOBAL_ECONOMY_2022

If left unchecked- climate change could cost the global economy USD178 trillion over the next 50 years, or a 7.6% cut to global gross domestic product (GDP) in the year 2070 alone. If global warming reaches around 3°C toward the century’s end, the toll on human lives could be significant—disproportionately impacting the most vulnerable and leading to loss of productivity and employment, food and water scarcity, worsening health and well-being, and ushering in an overall lower standard of living globally,” reads the latest report of Deloitte Center for Sustainable Progress (DCSP), which was released during the World Economic Forum’s annual meeting.

Economic modeling shows unchecked climate change could ravage every region of the global economy; decarbonizing by midcentury would net $43 trillion over 50 years. Insufficient action on climate change could cost the global economy $178 trillion over the next 50 years, a 7.6% cut to global gross domestic product (GDP) in the year 2070 alone, according to a report from the Deloitte Center for Sustainable Progress (DCSP). However, the Global Turning Point Report economic analysis of 15 geographies in Asia Pacific, Europe, and the Americas also found that if global leaders unite in a rapid, systemic net-zero transition, the global economy could gain $43 trillion over the next five decades—a boost to global GDP of 3.8% in 2070 alone.

Letting climate change go unchecked could decimate the global economy by 2070. A new report by Deloitte lays out the four steps that governments, corporations, and citizens need to take if they’re to avoid such catastrophe. The world has plenty of economic problems on its plate, what with inflation, Russia’s invasion of Ukraine, and broken supply chains all threatening global growth.

The Global Turning Point Report from the recently established Deloitte Center for Sustainable Progress (DCSP) was released during the World Economic Forum’s annual meeting, which is taking place in Davos, Switzerland from 22-26 May. Based on research conducted by the Deloitte Economics Institute, the report analyses 15 geographies in Asia Pacific, Europe, and the Americas.

But a systemic net-zero transition could create five-decade gains of $43 trillion — a boost to global GDP of 3.8% in 2070 alone, says report issued for the World Economic Forum in Davos. Inaction on climate change will cost the global economy $178 trillion over the next 50 years, enough loss for a 7.6% cut to global GDP in 2070 alone, a new report from the Deloitte Center for Sustainable Progress.

A new report from the Deloitte Center for Sustainable Progress (DCSP) released during the World Economic Forum’s annual meeting indicates that—if left unchecked—climate change could cost the global economy $178 trillion over the next 50 years, or a 7.6% cut to global gross domestic product (GDP) in the year 2070 alone. If global warming reaches around 3°C toward the century’s end, the toll on human lives could be significant—disproportionately impacting the most vulnerable and leading to loss of productivity and employment, food and water scarcity, worsening health and well-being, and ushering in an overall lower standard of living globally.

Inaction on climate change could cost the economy $178 trillion over the next 50 years, or a 7.6 percent cut to gross domestic product (GDP) in 2070, a research report from Deloitte Center for Sustainable Progress (DCSP) said…

Scientists agree that unless society makes changes, unchecked climate change will devastate the environment. The economic impact will be significant too, as countries across the globe face a growing threat. For years climate change was an intangible idea. Sure, hurricanes, drought, and floods were on the rise, but many people and governments resisted making changes.