Climate change could cut global GDP in half by late 21st century

Without urgent action to curb emissions and restore ecosystems, the global economy could shrink by 50% between 2070 and 2090 due to climate-driven disasters, according to a report by actuaries and scientists.

Sandra Laville reports for The Guardian.

In short:

A study by the Institute and Faculty of Actuaries warns climate impacts like extreme weather and ecosystem collapse could devastate the global economy.
Current economic models underestimate risks by ignoring tipping points and systemic failures caused by global heating.
The report calls for policymakers to adopt a "planetary solvency" approach to protect the Earth's systems essential for human survival.

Key quote:

“You can’t have an economy without a society, and a society needs somewhere to live.”

— Sandy Trust, lead author of the report

Why this matters:

Climate-related shocks could disrupt food, water and energy systems, threatening billions of lives and global stability. Ignoring these risks perpetuates inadequate policies, leaving humanity unprepared for worsening crises.

www.theguardian.com

Climate change could cut global GDP in half by late 21st century

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