Climate inaction could cost the global economy $178 trillion over the next 50 years: report – Arabian Business

Climate inaction could cost the global economy $178 trillion over the next 50 years: report – Arabian Business

If left unchecked, climate change could cost the global economy $178 trillion over the next 50 years – which is equivalent to a 7.6 percent cut to global gross domestic product (GDP) in the year 2070 alone.

These figures will revealed in the new Deloitte Center for Sustainable Progress (DCSP) report, which was released during the World Economic Forum’s annual meeting in Davos.

The report also states that if global warming reaches around 3°C toward the century’s end, the toll on human lives could be significant – disproportionately impacting the most vulnerable.