The True Cost Of Climate Change Is Only Just Becoming Apparent
We need to brace ourselves.
Remember the horrific impact of the 2008 financial crisis? We all either were deeply affected or knew someone who was. Millions of people lost their jobs, vast swathes of homes were foreclosed, and the price of living skyrocketed. Multiple generations still carry the deeply damaging trauma of being squeezed so tightly and suffering for so long because of this financial crash that wasn’t their fault. Well, I have some troubling news: climate change will create economic conditions that will make 2008 look like a pleasant day at the beach. Let me explain.
Three recent studies have revealed the extent of how badly climate change will influence the global economy. These studies used different methods and data to draw their conclusions, but worryingly, they all drew almost identical results, suggesting these predictions are incredibly sound.
Let’s start with the most recent study, which was conducted by the Green Finance Institute that is financed and supported by the UK government. They found that the breakdown in the UK’s natural environment and of the foreign locations the country depends upon will lead to a 12% loss of GDP by the 2030s. In fact, just the loss of natural habitats within its own borders will lead to a 5% drop in GDP. For some…
