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The deadly landslides in Kerala's ecologically fragile Wayanad district were triggered by a heavy burst of rainfall, made 10 per cent heavier by <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword>, according to a new rapid attribution study by a global team of scientists. Researchers from India, Sweden, the US and the UK warned that such events will become more common as the climate continues to warm. To measure the impact of human-caused climate change, the scientists from the <keyword id="12008149" type="General" weightage="20" keywordseo="World-Weather-Attribution" source="Orion">World Weather Attribution</keyword> (WWA) group analysed climate models with high enough resolution to accurately reflect rainfall in the relatively small study area. The models indicated that the intensity of rainfall has increased by 10 per cent due to climate change, they said. The models also predict a further four per cent increase in rainfall intensity if the average <keyword id="21951013" type="General" weightage="20" keywordseo="global-temperature" source="keywords">global temperature</keyword> rises by two degrees Celsius compared to the 1850-1900 average. The scientists, however, said there is a "high level of uncertainty" in the model results as the study area is small and mountainous with complex rainfall-climate dynamics. Having said that, the increase in heavy one-day rainfall events aligns with a growing body of scientific evidence on extreme rainfall in a warming world, including in India, and the understanding that a warmer atmosphere holds more moisture, leading to heavier downpours. According to scientists, the atmosphere's capacity to hold moisture increases by about 7 per cent for every one-degree Celsius rise in global temperature. The Earth's global surface temperature has already increased by around 1.3 degrees Celsius due to the rapidly rising concentration of greenhouse gases, primarily carbon dioxide and methane. Scientists say this is the reason behind worsening <keyword id="19912530" type="General" weightage="20" keywordseo="extreme-weather-events" source="keywords">extreme weather events</keyword>, such as droughts, heat waves and floods worldwide. The WWA scientists said that while the relationship between land cover, land use changes and landslide risk in Wayanad is not fully clear from existing studies, factors, such as quarrying for building materials and a 62 per cent reduction in forest cover may have increased the slopes' susceptibility to landslides during heavy rainfall. Other researchers have also linked the <keyword id="22597176" type="General" weightage="100" keywordseo="Wayanad-landslides" source="keywords">Wayanad landslides</keyword> to a combination of forest cover loss, mining in fragile terrain and prolonged rain followed by heavy precipitation. S Abhilash, the director of the Advanced Centre for Atmospheric Radar Research at Cochin University of Science and Technology (CUSAT), had earlier told PTI that the warming of the Arabian Sea is leading to the formation of deep cloud systems, resulting in extremely heavy rainfall in Kerala in a short period and increasing the risk of landslides. "Our research found that the southeast Arabian Sea is becoming warmer, causing the atmosphere above Kerala to become thermodynamically unstable. This instability is allowing the formation of deep clouds," he had said. According to the landslide atlas released by ISRO's National Remote Sensing Centre last year, 10 out of the top 30 landslide-prone districts in India are in Kerala, with Wayanad ranked at the 13th spot. A study published by Springer in 2021 said all landslide hotspots in Kerala are in the Western Ghats region and are concentrated in Idukki, Ernakulam, Kottayam, Wayanad, Kozhikode and Malappuram districts. It said about 59 per cent of total landslides in Kerala have occurred in plantation areas. A 2022 study on depleting forest cover in Wayanad showed that 62 per cent of forests in the district disappeared between 1950 and 2018, while plantation cover rose by around 1,800 per cent.

Wayanad landslides linked to 10% heavier rainfall due to climate change: Study

<ul class="summary-list"><li>President-elect Donald Trump has questioned the reality of the climate crisis.</li><li>He's expected to withdraw the US from the Paris Agreement, which he also did in his first term.</li></ul>President-elect Donald Trump has long questioned the reality of the climate crisis, describing it as a "scam" and accusing policies to tackle the crisis of destroying US jobs.Many expect him to withdraw the US from the Paris Agreement to limit emissions upon taking power in January, as he did in his first term.But his hostility to green policies conflicts with another of his priorities — challenging the rise of China."A second US withdrawal from the Paris Agreement would present a significant opportunity for China to expand its leadership role in multilateral climate issues," Herbert Crowther, an analyst with the Eurasia Group in New York told Business Insider.Trump's victory is overshadowing this week's UN climate summit in Baku, Azerbaijan, where pledges from Biden administration officials are tempered by the fact they won't be around for long.And China is already positioning itself to fill the power vacuum and build its global influence."In the week since the election, we're already seeing China try to claim the mantle of global climate leadership and portray itself as the more "responsible" actor in this space," Lily McElwee, fellow in the Freeman Chair in China Studies at the Center for Strategic and International Studies in Washington, DC, told Business Insider."Beijing is out in force at COP29 calling for the United States under Trump to engage in 'constructive dialogue' and highlighting China's contributions to decarbonization through major investments in electric vehicles and other greentech industries."<div type="image" title="Chinese solar power station" height="576" width="1024" msid="115335201" hostid="261" sizebytes="137800"></div><h2 id="f89b9ca3-aa4a-4bb2-a5bf-27324f610f4d">The green tech superpower</h2>China has a curious position as both the world's largest polluter, and a powerhouse of green technology.It tops the <a target="_blank" class="" href="https://interactive.carbonbrief.org/the-carbon-brief-profile-china/index.html#">rankings for greenhouse emissions</a>, which helped power its huge economic growth in recent decades. In 2020, President Xi Jinping pledged that China would become <a target="_blank" class="" href="https://chinaeucn.com/carbon-neutrality-china/#:~:text=In%20September%202020%2C%20president%20Xi,carbon%20neutrality%20to%20the%20world.">carbon neutral by 2060,</a> and it's on track this year to record its first drop in greenhouse <a target="_blank" class="" href="https://www.businessinsider.com/china-meeting-us-climate-solar-panels-coal-power-energy-security-2024-5">emissions since 2016.</a>At the same time, China has pushed harder to produce its own green technology — and sell it to the rest of the world.It is the world's largest producer of electric vehicles and solar panels, and the percentage of its energy coming from renewable sources <a target="_blank" class="" href="https://www.iea.org/reports/renewables-2023/executive-summary#">is rapidly growing.</a>That work brings practical and economic benefits. Analysts also point to other motives for Beijing's green push: influence and power."Where the Trump administration sees renewable energy as a threat to jobs, China is leveraging clean energy as part of a long-term strategic gambit," wrote <a target="_blank" class="" href="https://www.brookings.edu/articles/chinas-belt-and-road-initiative-is-poised-to-transform-the-clean-energy-industry/">Daniel Araya of the Brookings Institute in Washington, DC, in 2018.</a>China, as part of its "Belt and Road" initiative to grow its global influence, has provided developing countries with renewable energy technologies, including wind farms."Green tech plays a critical role in Xi's economic vision. While China has spent a decade trying to catch up to the United States and other advanced economies in existing tech (like semiconductors), it is increasingly focused on securing leadership in emerging industries like cleantech," said McElwee.The strategy is paying off, with global demand for renewable energy production technologies predicted to surge, and China set to account for 60% of installed global renewable energy capacity by 2030, according to an <a target="_blank" class="" href="https://www.iea.org/news/massive-global-growth-of-renewables-to-2030-is-set-to-match-entire-power-capacity-of-major-economies-today-moving-world-closer-to-tripling-goal">October report by the International Energy Agency.</a>The US lags China as a clean tech economic power.Trump has been explicit about his plans to repeal and otherwise roll back climate policies from the Biden administration.That included <a target="_blank" class="" href="https://www.politico.com/news/2024/09/05/trump-inflation-reduction-act-00177493">a pledge</a> just before the election to "rescind all unspent funds" from President Joe Biden's Inflation Reduction Act, which provided billions in funding for clean tech.<h2 id="d064aeb1-2497-4d9c-b893-7e2c1b98241d">Will China step up? </h2>There are also doubts over how much China is willing to take an international leadership role on climate issues.It's been wary of international agreements to tackle climate change in the past, and last year was accused by European officials of <a target="_blank" class="" href="https://www.reuters.com/business/environment/china-denies-reports-it-obstructed-g20-climate-discussions-2023-08-02/#:~:text=China%20denies%20reports%20it%20obstructed%20G20%20climate%20discussions%20%7C%20Reuters">obstructing G20 efforts </a>to tackle the climate crisis, Reuters reported. Assuming a leadership role would likely require China to send money to other countries, said Crowther. "The key question for officials in Beijing will now turn to whether China wants to deepen its financial commitments to helping other countries—particularly emerging markets—accelerate their own energy transitions," he said.Crowther said the run up to next year's COP30 summit in Brazil would provide clues of China's intentions. Ultimately, Xi may be more interested in cementing China's economic advantages than in concrete diplomatic pledges. "Although Beijing will try to boost its image as a global leader on climate change, I don't know how much substance will follow," said McElwee.

Trump called the climate crisis a scam. It could prove a gift to China.

Climate Action 15: 2024's top global innovators powering green solutions

New Delhi [India], June 5 (ANI): The Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="bjp" source="keywords">BJP</keyword>)-led National Democratic Alliance (<keyword id="19938590" type="General" weightage="20" keywordseo="NDA" source="keywords">NDA</keyword>) secured a majority in the general elections, securing a third term for Prime Minister Narendra Modi. This victory indicates continuity in policy, particularly in <keyword id="21785272" type="General" weightage="20" keywordseo="infrastructure-spending" source="keywords">infrastructure spending</keyword> and boosting domestic manufacturing, which are expected to support robust <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword>. However, the NDA's slim margin of victory and the BJP's loss of an outright majority in parliament may slow down more extensive economic and fiscal reforms, potentially impeding <keyword id="20101140" type="General" weightage="20" keywordseo="fiscal-consolidation" source="keywords">fiscal consolidation</keyword> efforts. In fiscal 2023-24, India's real GDP accelerated to 8.2 per cent from 7.0 per cent the previous year, driven by significant gains in gross fixed capital formation as the government's infrastructure programs gained momentum, even as private consumption remained subdued. <keyword id="20227907" type="General" weightage="20" keywordseo="Moodys" source="keywords" meta.keywordsubtype="org" meta.entityname="Moody's" meta.hostid="261" meta.entityid="Moody's">Moody's</keyword> projects India's economic strength to continue, with an anticipated real <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> of around 7 per cent over the three-year period from fiscal 2023-24 to 2025-26. This growth is expected to benefit from ongoing infrastructure development and digitalization efforts. Despite this outlook, structural weaknesses pose risks to long-term growth potential. High youth unemployment and low productivity growth in the agriculture sector constrain economic expansion. The agricultural sector's modernization has been stalled by political challenges, as evidenced by the repeal of key reforms in 2021 following widespread farmer protests. Additionally, gains in manufacturing have been uneven, limiting labour force diversification away from agriculture, which still accounts for 40 per cent of total employment. Foreign direct investment (FDI) inflows have declined over the past three years, despite a favourable geopolitical climate amid US-China tensions. This trend suggests persistent constraints within India's investment climate. To address these challenges, further structural reforms and enhanced implementation of existing initiatives, such as the production-linked incentive schemes to promote manufacturing, calibrated liberalisation of cross-border trade, and reconsideration of labour reforms, are necessary. The government's focus on fiscal consolidation is expected to continue, but significant improvements in debt ratios and interest servicing have yet to be realised. Since the trough in fiscal 2020-21, the central government's deficit has likely narrowed for three consecutive years. The interim budget for fiscal 2024-25 projects a deficit of around 5 per cent of GDP, aiming for a 4.5 per cent deficit by fiscal 2025-26. However, India's fiscal consolidation post-pandemic has not outpaced other emerging markets in Asia-Pacific, and its fiscal and debt metrics remain weaker than those of Indonesia, the Philippines, Thailand, and other Baa-rated peers globally. India's general government debt is projected to stabilise above 80 per cent of GDP over the next three years, compared to 70.5 per cent in fiscal 2018-19. General government interest payments are forecast to fall to around 24 per cent of general government revenue over the next two years, down from over 28 per cent in fiscal 2020-21, but still higher than the pre-pandemic ratio of less than 23 per cent. While increased budgetary allocations for infrastructure indicate an improvement in spending quality, debt servicing remains a significant portion of expenditure, reflecting ongoing constraints on fiscal flexibility. This situation underscores the need for the incoming government to balance fiscal consolidation with growth-supportive measures. The upcoming final budget for the fiscal year ending March 2025 will provide further insights into India's fiscal policy direction through 2029. As the Modi administration embarks on its third term, the focus will likely remain on sustaining economic growth while addressing the persistent <keyword id="21500054" type="General" weightage="20" keywordseo="fiscal-challenges" source="keywords">fiscal challenges</keyword> that hinder India's long-term economic potential.

Modi 3.0 will offer policy continuity, but BJP's loss of outright majority may slow down fiscal reforms: Moody's

The vulnerable GOP congressman convinced that economic interest voters will save him from the Trump and abortion backlash

If you’ve ever wondered whether fish can suffocate in water, the answer is yes. Our planet's waters, from the tiniest pond to the vast expanse of the ocean, are experiencing a silent crisis: a rapid and dramatic decline in <keyword id="21181078" type="General" weightage="20" keywordseo="oxygen-levels" source="keywords">oxygen levels</keyword>. This "<keyword id="22526914" type="General" weightage="20" keywordseo="aquatic-deoxygenation" source="keywords">aquatic deoxygenation</keyword>," as scientists call it, poses a major threat not just to marine ecosystems, but to the very fabric of human society and the stability of life on Earth. An international study in Nature Ecology &amp; Evolution, involving researchers from GEOMAR Helmholtz Centre for Ocean Research Kiel, urges world leaders to recognise this oxygen loss as a new planetary boundary. <keyword id="22526915" type="General" weightage="20" keywordseo="planetary-boundaries" source="keywords">Planetary boundaries</keyword> are critical thresholds that, if crossed, can trigger large-scale and irreversible environmental damage. Just like we need oxygen to breathe, so do <keyword id="22526918" type="General" weightage="20" keywordseo="aquatic-ecosystems" source="keywords">aquatic ecosystems</keyword> — from microscopic plankton to bigger fish. The decline in <keyword id="21809938" type="General" weightage="20" keywordseo="dissolved-oxygen" source="keywords">dissolved oxygen</keyword> (DO) threatens the survival of countless species at all levels of the food chain. The study reveals a disturbing trend. Across all aquatic environments, from lakes and rivers to coastal waters and the open ocean, dissolved oxygen levels have dropped substantially in recent decades. <keyword id="22526916" type="General" weightage="20" keywordseo="oceanic-oxygen-loss" source="keywords">Oceanic oxygen loss</keyword> may seem small at 2% since 1960, but due to the ocean's vast volume, this translates to a significant loss. Even more alarming is the case of specific regions, like the midwaters off Central California, where oxygen levels have plummeted by 40% in just a few decades. The research team warns that this isn't just an environmental concern; it's an economic and social one too. Billions of people rely on healthy aquatic ecosystems for food, income from fisheries and tourism, and clean drinking water. <div type="Article" hostid="261" msid="111566431" title="June warmest on record; every month since July 2023 breached 1.5 deg C threshold" mstype="2" mssubtype="0"></div>The culprit behind this oxygen depletion is a combination of factors. <keyword id="19942740" type="General" weightage="20" keywordseo="global-warming" source="keywords">Global warming</keyword>, fueled by greenhouse gas emissions, raises water temperatures, decreasing the amount of oxygen water can hold. Additionally, nutrient runoff from land use changes stimulates massive <keyword id="22526917" type="General" weightage="20" keywordseo="algal-blooms" source="keywords">algal blooms</keyword>. These blooms, while initially appearing productive, consume vast amounts of oxygen as they decompose, creating oxygen-depleted dead zones. Dr Rose, lead author of the study from Rensselaer Polytechnic Institute, emphasises the urgency of addressing this issue. Adding aquatic deoxygenation to the list of planetary boundaries will focus global efforts on monitoring, research, and policy changes to protect our vital aquatic ecosystems and, in turn, human society. The root causes are global warming and nutrient runoff from land use, explains co-author Dr Andreas Oschlies of GEOMAR. Warmer water hinders oxygen exchange between deep and surface layers, and nutrient influx fuels algal blooms that deplete oxygen further. These oxygen-depleted zones aren't just lifeless wastelands; they have a ripple effect that threatens our planet's health. Microbes in these zones produce potent greenhouse gases like nitrous oxide and methane, contributing further to global warming and exacerbating the very problem they were created by. We are approaching critical thresholds, warns Professor Rose. Aquatic deoxygenation disrupts the delicate balance of Earth's climate system. Addressing the root causes, like climate change and unsustainable land practices, is crucial. <div type="Article" hostid="261" msid="111609639" title="Groundwater temperatures could rise several notches by 2100, making it too hot to drink for millions!" mstype="2" mssubtype="0"></div>

Oxygen is disappearing from Earth’s water; this endangers marine life and human society!

<ul class="summary-list"><li>Rep. Alexandria Ocasio-Cortez stepped onto the stage at the DNC as a key Democratic surrogate.</li><li>Before Ocasio-Cortez entered Congress, many saw her as a institutional disruptor.</li></ul>When Alexandria Ocasio-Cortez burst onto the national political scene in 2018, it was clear that she little patience for politics as usual.Ocasio-Cortez's defeat of then-Rep. Joe Crowley in New York's 14th congressional district Democratic primary that year signaled the rising influence of progressivism within the party, especially among working-class voters, along with millennials and Gen Zers.Even before being sworn into office, Ocasio-Cortez <a target="_blank" class="" href="https://www.businessinsider.com/alexandria-ocasio-cortez-joins-climate-change-protest-outside-of-pelosi-office-2018-11">joined climate change activists</a> protesting outside of then-House Democratic leader Nancy Pelosi's Capitol Hill office in November 2018, an early sign that she would not be deferential to leadership on the key issue.For many observers, all signs pointed to a perpetual ideological tussle between Ocasio-Cortez and top Democrats. But along the way, she's broadened her appeal within the party.And it was <a target="_blank" class="" href="https://www.youtube.com/watch?v=ZQYrbcO1Qu0">on full display</a> during the first night of the Democratic National Convention in Chicago, when Ocasio-Cortez was not only given a prime speaking slot but received rave reviews by many for her defense of the party's values and her strong backing of Vice President Kamala Harris' presidential campaign.<h2 id="776b2fcd-c9cc-4077-af1d-d676cc8838b2">From progressive newbie to Democratic insider</h2>Speaking slots at national conventions are perfect opportunities for up-and-coming politicians to get face time with the party faithful and tap into the sort of connections that can pay dividends down the line.But this is AOC.The congresswoman became a household name after winning her highly consequential primary race eight years ago. But while Ocasio-Cortez's ideology has largely stayed intact — notably on backing student-loan debt relief, continued <a target="_blank" class="" href="https://ocasio-cortez.house.gov/media/press-releases/ocasio-cortez-sanders-ramirez-reintroduce-green-new-deal-public-housing-act">support for a Green New Deal</a>, and the push for a ceasefire in Gaza — a lot has also changed since she began her career on Capitol Hill.Ocasio-Cortez is now the vice ranking member, or the No. 2 Democrat, on the House Oversight Committee, one of the highest-profile panels in the lower chamber. It is on this committee where the congresswoman has been able to flex her own leadership skills while also working with Republican leaders.But on Monday, Ocasio-Cortez — who became a <a target="_blank" class="" href="https://www.businessinsider.com/aoc-biden-progressives-outreach-democratic-party-sanders-2024-election-2023-9">strong ally</a> of President Joe Biden early on in his administration — gave a speech that could appeal to Democrats across the ideological spectrum."Ever since I got elected, Republicans have attacked me by saying that I should go back to bartending," she said. "But let me tell you, I'm happy to any day of the week because there is nothing wrong with working for a living."Ocasio-Cortez's message leaned into the sort of economic populism that both Harris and vice-presidential candidate Tim Walz will need to win across the Upper Midwest and in states like Nevada and Pennsylvania. And the crowd ate up the congresswoman's words.<h2 id="0b8abf1d-b6c7-41ae-9c58-bb6455a08b57">The future</h2>Ocasio-Cortez's speech was seemingly a declaration to any remaining Democratic skeptics that she's a vital voice within the party — and not the fringe figure that critics have sought to depict her as since joining Congress.There have been some political setbacks, including her <a target="_blank" class="" href="https://www.nbcnews.com/meet-the-press/meetthepressblog/ocasio-cortez-backs-democratic-campaign-leaders-primary-challenger-rcna32356">2022 support</a> of progressive New York state Sen. Alessandra Biaggi over then-incumbent Rep. Sean Patrick Maloney in the Democratic primary for New York's swingy 17th congressional district. (Biaggi lost the primary and Maloney was defeated in the general election by now-Republican Rep. Mike Lawler.)But hasn't impacted Ocasio-Cortez being a draw for the party.<a target="_blank" class="" href="https://www.huffpost.com/entry/rep-alexandria-ocasio-cortez-primetime-speech_n_66c3ead6e4b0802831f038bf">The Huffington Post reported</a> that Ocasio-Cortez didn't seek out the convention speaking slot, but was contacted by convention organizers about making an appearance.Such a move shows that Ocasio-Cortez's appeal, especially among the young voters that Harris and Walz will need to win in November, has not gone unnoticed by the party.And judging by the energetic reception that the congresswoman received as she walked offstage, her star will likely continue to rise.

AOC's speech at the DNC shows just how much she's changed

<ul class="summary-list"><li>A new study from <keyword id="6358918" type="General" weightage="60" keywordseo="deloitte" source="Orion">Deloitte</keyword> lays out four phases for tackling <keyword id="6361617" type="General" weightage="60" keywordseo="climate-change" source="Orion">climate change</keyword> and its economic risks.</li><li>The team sees <keyword id="6375923" type="General" weightage="60" keywordseo="climate" source="Orion">climate</keyword> risks costing the world <keyword id="34412" type="General" weightage="100" keywordseo="economy" source="Orion">economy</keyword> $178 trillion in <keyword id="35050" type="General" weightage="60" keywordseo="gdp" source="Orion">GDP</keyword> over the next 50 years.</li></ul>Letting climate change go unchecked could decimate the global economy by 2070. A new report by Deloitte lays out the four steps that governments, corporations, and citizens need to take if they're to avoid such catastrophe. The world has plenty of economic problems on its plate, what with inflation, Russia's invasion of Ukraine, and broken supply chains all threatening global growth. The looming climate crisis, however, is too costly to ignore, Deloitte economists Pradeep Philip, Claire Ibrahim, and Cedric Hodges said in a report published Monday morning. If the world stays on its current path, average temperatures will climb 3 degrees Celsius by the end of the century. That will cost the global economy about $178 trillion in just the next 50 years, according to the study. Human costs including food scarcity, job losses, and reduced standards of living will also mount, the team said. Conversely, pushing for net-zero emissions can set the stage for stronger economic growth in the coming decades. Such a pivot can grow the world economy by $43 trillion by 2070, according to the report. The deadline for achieving that windfall is fast approaching. Deloitte's rosier estimate hinges on the world decarbonizing its economy by 2050, a feat that would limit warming to about 1.5 degrees Celsius. But getting to net-zero emissions is no easy task, and Deloitte sees four phases as key to bringing about an environmentally sustainable future. <h2>Going 'bold' on climate change</h2>The first steps toward achieving net-zero will be more theoretical than concrete. The world needs to "set the stage" for decarbonization with policies and frameworks for a low-carbon future, the team said, adding that the first step will be focused on "bold climate plays." With emissions still on the rise, the clock is running out for world governments to plan for a decarbonized economy. "Given the costs associated with each tenth of a degree of temperature increase, every month of delay brings greater risk and forestalls the eventual economic gains," the economists said. <h2>Paying upfront for boosted growth</h2>Reaching net-zero emissions will take some serious investment. Economies will have to pay up for clean energy, sustainable supply chains, and replacements for emissions-intensive industries if they're to make the transition in time, according to the report. <div type="image" title="Deloitte" height="645" width="572" msid="91746172" hostid="261"></div>The shift won't be without some "growing pains," the team added. Investing in a greener economy will dent GDP growth over the next two decades as companies shift their focus from profitability to sustainability. Deloitte estimates that the growth outlook will reach a turning point in the late 2040s, after which the investments are forecasted to yield massive returns, to say nothing of the benefits of avoiding climate disasters. <h2>Reaching the turning point</h2>The net-zero experiment will start to pay off in about 25 years, when investments in "structural economic adjustment" near completion, the team said. "Economies would realize the dividend of the transformation and experience net positive growth," they added. The turning point also represents the moment the world moves away from the risk of a $178 trillion projected loss and toward a $43 trillion gain. There will be significant costs in the first several years of the transition, but economists must regard climate change as a trend — not a temporary scenario — as they model the potential risks, according to Deloitte. "If the economic impacts of a changing climate are left out of economic baselines, the result is likely to be poor decision-making, ineffective risk management, and dangerously inadequate efforts to address the climate crisis," the team said. <h2>Maintaining a low-emissions future</h2>Staying the path can, ideally, create a decarbonized economy, but the work won't be all done then. Governments and companies will have to maintain "interconnected, low-carbon systems" to keep the green economy alive and growing, the team said. This world economy will expand "at an increasingly faster rate than its carbon-intensive alternative," they added. The benefits will differ from region to region. The Asia Pacific economy has the most exposure to climate-related damage, according to the report. The region could lose $96 trillion of economic growth by 2070 if decarbonization isn't achieved. Put another way, the area's GDP could be 9% smaller in 50 years than in a world with net-zero emissions. The Americas would follow with a combined $36 trillion loss by 2070, Deloitte said. The US alone would lose $4 trillion in potential growth, and the region's overall GDP would be 4% lower by 2070 compared to a decarbonized world. Europe faces the smallest projected loss, with the region expected to lose $10 trillion in GDP by 2070 compared to a decarbonized future. Still, economic growth would reach just 1% in the 2060s as climate problems slam into the European economy. The stakes are extremely high. Deloitte's modeling shows investments in decarbonization not just paying off, but paying dividends throughout the 21st century.

You Searched For "Economic Losses climate change 2018" and got 8 results

Wayanad landslides linked to 10% heavier rainfall due to climate change: Study

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Trump called the climate crisis a scam. It could prove a gift to China.

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Modi 3.0 will offer policy continuity, but BJP's loss of outright majority may slow down fiscal reforms: Moody's

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The vulnerable GOP congressman convinced that economic interest voters will save him from the Trump and abortion backlash

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Oxygen is disappearing from Earth’s water; this endangers marine life and human society!

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AOC's speech at the DNC shows just how much she's changed

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