Climate Change Not only Warms the Planet: the Economy Could Melt

El Pais

Lean Left

Factuality

Ownership

In mid-January, the body that brings together UK insurers dared to contradict a Nobel Prize. If the two degrees of warming are exceeded, climate change could take up to 20% of global GDP ahead by 2050, the Institute and Faculty of Actuaries concluded in its Parasol Lost report, published alongside Exeter University. A much more dramatic scenario than the one painted by William Nordhaus, whose calculations limited losses to 2.1% of GDP in the fac…