In the “Key Takeaways” S&P states.
This suggests that — as a baseline — all sectors, including households, may want to prepare for the impacts of physical climate risks associated with a +2.3°C world.
If we’re not ready, there’s a 50% chance that economic costs from global warming would accumulate to 9%-33% of GDP by 2040.
Yet, globally, climate adaptation and resilience needs remain largely unmet.
We believe this is due, in part, to uncertainties and data gaps associated with climate risk modelling, long and costly implementation of adaptation and resilience investments, and greater societal benefits than private benefits, all of which could put such investments on the back burner.
In a more extreme case (90th percentile), the average temperature could be +2.8 C higher than preindustrial levels by 2040.
This is our finding after integrating the potential economic impacts of climate change into our probabilistic model.
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Full report:
https://www.spglobal.com/ratings/en/regulatory/article/sustainability-insights-why-planning-for-a-23c-warmer-world-is-critical-this-decade-and-next-s101644796
Good mournings #doomisphere 🤗
Richard dropped his new #CrisisReport (no. 75) over on medium. 🤩
Tldr: "No, this is not from some ' #crazy' #Doomers', ' #woke' #environmentalists, the ' #climate' #activists or from the #UN - here’s what Standard and Poors Global [ #SNP ] is telling its clients:
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