Thanks to globalisation, severe heatwaves in one part of the world can cause financial losses in another. Annual losses could reach as much as $25 trillion by 2060 if we don't curb emissions, dwarfing any previous financial crisis
Without dramatic action to curb greenhouse emissions, even high-latitude countries with cooler climates will suffer devastating, if indirect, financial losses as extreme heat disrupts global supply chains.
The result could be the worst financial crisis the world has ever seen., including higher mortality rates, preventing people from working outside, destroying crops and disrupting industrial processes. But until now, little research has been done looking at the financial impact of heatwaves…New Scientist
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