Climate Change Cost Nations One Fifth of GDP in 2030

Climate Change Costs May Amount to One Fifth of GDP in 2030

~ Action on climate can prevent between 40 and 68 percent of the expected economic loss, a new study finds ~

According to a new report from the Economics of Climate Adaptation Working Group, climate risks could cost nations up to 19 percent of their GDP by 2030, with developing countries most vulnerable.

The report estimates expected economic loss for the eight different case study regions, combining existing climate risks, climate change and the value of future economic development.

According to the study, action on climate can prevent between 40 and 68 percent of the expected economic loss and even more in highly targeted geographies.

Easily identifiable and cost effective measures are for instance drainage, sea barriers, and improved building regulations that could reduce potential economic losses from climate change for all regions.

The ECA working group is a partnership between reinsurance group Swiss Re, consulting firm McKinsey & Co., the Global Environment Facility, ClimateWorks, the European Commission, the Rockefeller Foundation and Standard Chartered Bank.


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Rie Jerichow
2009-09-15
http://en.cop15.dk/news/view+news?newsid=2100