News
Unchecked climate change will cost the global economy $178 trillion: Deloitte
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.
If global warming — which is already costing the world more in severe storm damage, crop loss, health risks, compromised travel and more — reaches around 3°C toward the century’s end, the toll on human lives could be significant, the consultancy said in its release, timed to the high-profile World Economic Forum underway in Davos, Switzerland.
Related Knowledge Center: Climate impact and adaptation
State of Play
As the impact of climate change becomes more pronounced, more governments and companies are adopting adaptation strategies.