As temperatures rise, what’s the cost to the global economy? - Al Jazeera English
As temperatures rise, what’s the cost to the global economy? | Climate Crisis | Al Jazeera
Counting the Cost
As temperatures rise, what’s the cost to the global economy?
As millions in the Northern Hemisphere grapple with extreme heat, we look at the cost of the latest climate threats.
Record-breaking temperatures this season are the result of heat-trapped gases caused by burning fossil fuels, as well as by the El Nino weather phenomenon.
There is a sustained spell of dangerous heat in some regions, while others are facing torrential rains and floods.
For many, there is simply no escape from the impacts of climate change. We look at what new weather patterns will mean for the global economy.
Elsewhere, we talk to Berthold Trenkel, the Chief Operating Officer of Qatar Tourism Authority, about their plans to put the country on the global tourism map.
And we find out how modest fashion has gone from niche to mainstream in just a few years.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”