26 Sep '12, 1am

Scary report attempts to quantify economic cost of current and imminent climate change impacts

Inaction on climate change already costs the world economy 1.6 per cent of global GDP - approximately $1tr a year - and cost are likely to double to 3.6 per cent of GDP by 2030 if governments and businesses fail to take urgent action, an NGO has warned. Madrid-based DARA yesterday released a report commissioned by 20 governments that attempts to calculate the economic damage that will be caused through to 2030 by escalating temperatures, rising sea levels and carbon-related pollution. FURTHER READING Report warns of global food insecurity as climate change destroys fisheries EU to work with China on carbon cutting projects Entitled A Guide to the Cold Calculus of A Hot Planet , the report concludes decisions taken on cold monetary terms alone would favour strong action on climate change globally and regionally. It says without action to tackle climate change major economie...

Full article: http://www.businessgreen.com/bg/news/2208097/climate-chan...

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