Global economy could face 50% loss in GDP from climate shocks, say actuaries
4 hours ago
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- #economic_risk
- #policy_action
- Climate change could cause a 50% loss in global GDP between 2070 and 2090 without urgent decarbonization and nature restoration.
- Current economic predictions underestimate damages, ignoring severe effects like tipping points, migration, and conflict.
- At 3C+ warming by 2050, risks include over 4 billion deaths, state failures, and extinction events.
- The report criticizes dominant economic theories for neglecting nature's role and calls for a paradigm shift.
- A 'planetary solvency' risk dashboard is proposed to guide policy within Earth's finite boundaries.