A Deloitte report on climate change analyzed 15 regions in Asia Pacific, Europe and the Americas. Here’s what it found.
Inaction on climate change will cost the global economy $178 trillion over the next 50 years, enough loss for a 7.6% cut to global GDP in 2070 alone, a new report from the Deloitte Center for Sustainable Progress said Monday.
Climate-change effects will disproportionately impact the most vulnerable and lead to loss of productivity and employment, food and water scarcity, worsening health and well-being, and ushering in an overall lower standard of living globally, the group said. Read: Not enough babies? EV battery shortage? Dwindling water? There are ‘scarcity’ stock plays for all of it
To realize the full extent of the “new green economy,” governments will need to collaborate closely with the financial services and technology sectors. — Pradeep Philip, Deloitte Economics Institute For instance, earlier at the Davos meeting private and public-sector interests talked of the carbon capture technology that would allow oil and natural gas NG00, +0.26% to remain in an energy mix that includes wind, solar, nuclear and hydrogen. The technology snatches pollution at the point of combustion, storing it underground, and sometimes repurposing the carbon byproduct as its own energy source.
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