The global economy may face a 50 % loss of GDP between 2070 and 2090 of the catastrophic trauma for climate change unless immediate action is taken by political leaders to remove carbon and restore nature, according to a new report.
Bread warning from risk management experts in Institute and College of AkatariansOr IFOA, greatly increases the risk estimation of global economic luxury from the effects of climate change, such as fires, floods, drought, high temperature and natural collapse. In a report with scientists at the University of Exter, published on Thursday, IFOA, who uses mathematics and statistics to analyze the financial risks of companies and governments, called for quick measures by political leaders to address the climate crisis.
Their report It was published after data from COPERNICUS Climate Service Climate collapse showed the annual global temperature Above the internationally agreed target 1.5 ° C for the first time in 2024, which is very charging.
Without an urgent procedure to accelerate Carbon removalThe IFOA report said that the removal of carbon from the air and the repair of nature, the worst reasonable situation for global economies will be 50 percent in the two decades before 2090.
At 3 degrees Celsius or more of heating by 2050, there can be more than 4 billion deaths, a major political social fragmentation around the world, and the failure of countries (with the result of rapid, permanent, and large capital loss) And extinction events.
Sandy Trust, the leader of the report, said there is no realistic plan to avoid this scenario.
He said that the economic predictions, which are estimated that the damage caused by global heating will be low to 2 percent of global economic production of 3 degrees Celsius in the average global surface temperature, and was inaccurate and was the blindness of political leaders in the risks of their policies.
The report said that climate risk assessments used by financial institutions, politicians and civil service employees to assess the economic effects of global heating were wrong, because they ignored the expected acute effects of climate change such as turning points, sea temperature, migration, and conflict as a result of global heating.
“[They] Do not realize that there is a risk of ruin. They are specifically wrong, instead of being almost right. “
If these risks are taken into account, the world has faced a growing danger of “insolvency of planets”, as Earth’s systems have been deteriorated to the point that people can no longer get enough critical services that they relied on to support societies and economies.
“You cannot have an economy without a society, and society needs a place to live in,” Trust said.
“Nature is our basis, as it provides food, water and air, as well as the raw materials and energy that occupies our economy. The threats of stability of this basis are the risks of human prosperity in the future, which we must take measures to avoid.”
The report, which is called “planetary sheet – to find our balance with nature”, criticizes the dominant economic theory that governments in the United Kingdom and the United States and through the developed world, which focuses on what humans can take from the planet to create growth for themselves and fail to observe the real risks of The deterioration of nature to societies and economies.
The report called for the typical transformation by political leaders, civil service and government employees to address global heating. He said: “Leaders and decision makers around the world need to understand the reason for the need for these changes.
“It is these parties that must lead politics decisions … Political makers are currently not able to hear warnings about the risks of continuous human progress or those who do not want to dispose of them with the required urgency.”
The report suggests a planetary sheet risk dashboard, to provide information to support policy makers to push human activity within the limits of the Earth.
“The current methods fail to properly assess the risks of escalating planets or help in controlling them. The planetary sheet applies the specific methods of risk professionals to our life support system. It finds it in danger.
