Ajaz Ahmed, PhD’s Post

The author argues that the relentless focus on economic growth, as measured by GDP, has led to the climate crisis and suggests the need for a more sustainable definition of well-being that doesn't prioritize unlimited growth. Source: https://lnkd.in/e5zuDVXs VISIT OUR WEBSITE: planetcents.us #PlanetCents #PlanetCentsMovement #ClimateCrisis #ClimateEmergency #ClimateAction

New study calculates climate change’s economic bite will hit about $38 trillion a year by 2049 The study published in Nature projects that climate change will lead to a 19% reduction in global income by 2049, equating to approximately $38 trillion annually. The economic impact disproportionately affects poorer regions and those least responsible for greenhouse gas emissions. Temperature increases drive the majority of damages, impacting crop yields and labor productivity. Despite efforts to mitigate emissions, the economic harm is largely locked in for the next 25 years, with emission cuts only marginally reducing income reduction. However, future scenarios show that cutting carbon emissions now could limit the financial impact to around 20%, while a worst-case scenario could result in a 60% income reduction. While the study's estimates are on the high end compared to others, economists emphasize the urgency of addressing climate change due to its long-term and compounding economic consequences. Follow our pages on LinkedIn: Global Bank President Ron Nechemia on LinkedIn: https://lnkd.in/gPKRR7nZ Global Bank on LinkedIn: https://lnkd.in/gn-QE8id Global Bank Innovation Lab for Climate Finance on LinkedIn: https://lnkd.in/gRyTVa27 The Global Bank Disaster Risk Reduction and Reconstruction Fund on LinkedIn: https://lnkd.in/gXbmFsc2 The Global Bank Infrastructure Project Preparatory Facility on LinkedIn: https://lnkd.in/gUxHjaJR Global Bank Capital Master Plan on LinkedIn: https://lnkd.in/gZ-db-tP The Global Bank Atlantic Reconstruction Fund on LinkedIn: https://lnkd.in/gSuB-CW6 #climate #climatechange #economic #economy #investing #climatefinance $=#climateinvesting #atmosphere #heating #global #world #areas #monetary #people #nature #economist #temperatures #droughts #floods #waves #heat #labor

#News | Our future income is at stake! According to Maximilian Kotz, a PIK scientist, our global economy faces a staggering 19% income loss by 2049 due to past emissions. That's a massive 17% hit on GDP! This highlights the significant impact of climate change on our financial future. #RealtyNXT #ClimateChange #SustainableFuture #Germany #GlobalEconomy #ClimateCrisis #GDP

How to ‘decouple’ emissions from economic growth? These economists say you can’t. At least, not fast enough to reach international climate targets. or nearly 200 years, two transformative global forces have grown in tandem: economic activity and carbon emissions. The two have long been paired together, or, in economist-speak, “coupled.” When the economy has gotten bigger, so has our climate footprint.This pairing has been disastrous for the planet. Economic growth has helped bring atmospheric CO2 concentrations all the way up to 420 parts per million. The last time they were this high was during the Pliocene epoch 3 million years ago, when global temperatures were 5 degrees Fahrenheit hotter and sea levels were 65 feet higher. Most mainstream economists would say there’s an obvious antidote: decoupling. This refers to a situation where the economy keeps growing, but without the concomitant rise in greenhouse gas emissions. Many economists and international organizations like the World Bank, the United Nations, and the Organization for Economic Cooperation and Development celebrate evidence that decoupling is already occurring in many countries.  “Let me be clear, economic growth coupled with decarbonization is not only realistic, it has already been happening,” said Fatih Birol, executive director of the International Energy Agency, or IEA, in a commentary published in 2020.

New study calculates climate change’s economic bite will hit about $38 trillion a year by 2049 The study published in Nature projects that climate change will lead to a 19% reduction in global income by 2049, equating to approximately $38 trillion annually. The economic impact disproportionately affects poorer regions and those least responsible for greenhouse gas emissions. Temperature increases drive the majority of damages, impacting crop yields and labor productivity. Despite efforts to mitigate emissions, the economic harm is largely locked in for the next 25 years, with emission cuts only marginally reducing income reduction. However, future scenarios show that cutting carbon emissions now could limit the financial impact to around 20%, while a worst-case scenario could result in a 60% income reduction. While the study's estimates are on the high end compared to others, economists emphasize the urgency of addressing climate change due to its long-term and compounding economic consequences. Follow our pages on LinkedIn: Global Bank President Ron Nechemia on LinkedIn: https://lnkd.in/gPKRR7nZ Global Bank on LinkedIn: https://lnkd.in/gn-QE8id Global Bank Innovation Lab for Climate Finance on LinkedIn: https://lnkd.in/gRyTVa27 The Global Bank Disaster Risk Reduction and Reconstruction Fund on LinkedIn: https://lnkd.in/gXbmFsc2 The Global Bank Infrastructure Project Preparatory Facility on LinkedIn: https://lnkd.in/gUxHjaJR Global Bank Capital Master Plan on LinkedIn: https://lnkd.in/gZ-db-tP The Global Bank Atlantic Reconstruction Fund on LinkedIn: https://lnkd.in/gSuB-CW6 #climate #climatechange #economic #economy #investing #climatefinance $=#climateinvesting #atmosphere #heating #global #world #areas #monetary #people #nature #economist #temperatures #droughts #floods #waves #heat #labor

New study calculates climate change’s economic bite will hit about $38 trillion a year by 2049 The study published in Nature projects that climate change will lead to a 19% reduction in global income by 2049, equating to approximately $38 trillion annually. The economic impact disproportionately affects poorer regions and those least responsible for greenhouse gas emissions. Temperature increases drive the majority of damages, impacting crop yields and labor productivity. Despite efforts to mitigate emissions, the economic harm is largely locked in for the next 25 years, with emission cuts only marginally reducing income reduction. However, future scenarios show that cutting carbon emissions now could limit the financial impact to around 20%, while a worst-case scenario could result in a 60% income reduction. While the study's estimates are on the high end compared to others, economists emphasize the urgency of addressing climate change due to its long-term and compounding economic consequences. Follow our pages on LinkedIn: Global Bank President Ron Nechemia on LinkedIn: https://lnkd.in/gPKRR7nZ Global Bank on LinkedIn:  https://lnkd.in/gn-QE8id Global Bank Innovation Lab for Climate Finance on LinkedIn:  https://lnkd.in/gRyTVa27 The Global Bank Disaster Risk Reduction and Reconstruction Fund on LinkedIn:  https://lnkd.in/gXbmFsc2 The Global Bank Infrastructure Project Preparatory Facility on LinkedIn:  https://lnkd.in/gUxHjaJR Global Bank Capital Master Plan on LinkedIn: https://lnkd.in/gZ-db-tP The Global Bank Atlantic Reconstruction Fund on LinkedIn: https://lnkd.in/gSuB-CW6 #climate #climatechange #economic #economy #investing #climatefinance $=#climateinvesting #atmosphere #heating #global #world #areas #monetary #people #nature #economist #temperatures #droughts #floods #waves #heat #labor

We can degrow and target a slow and managed GDP decline that can result in a much more manageable future. Alternatively, we can continue our efforts to grow our global economy and sabotage our hopes of mitigating the worst of climate change. The Potsdam Institute Paper puts the choice before us very clearly. The math is simple. It is cheaper to save ourselves than it is to destroy ourselves: “These damages are six times larger than the mitigation costs needed to limit global warming to two degrees.” The great poet, Adam Ant once said; “Stand and deliver, your money or your life.” We have that choice before us now. Which do you choose? #degrowth #climatechange #overshoot PETER VICTOR

Traditional economic indicators such as GDP do not capture a variety of material credit risk factors. In a three part series of reports, Louis Landeman at Danske Bank Research looks more closely on how climate change could impact sovereign credit quality. In Part 1, "Where will the current path take us?", we take a closer look at where the current path, with a rising emissions gap and large inequalities with regards to current and historical emissions, may take us. Absent of mitigating actions, climate change will increasingly disrupt economic activity, with likely non-linear impact as climate hazards interact and as tipping points are reached. If average global temperature rises are to stabilise at 1.5-2.0 degrees Celsius, carbon emission prices will need to increase further. In turn, this could have a major impact on economic growth, inflation, and asset prices. Link to Part 1 of the series: https://lnkd.in/dCxVtY-a

#Climatechange is predicted to cut average incomes by almost 20%, new research suggests. The incomes of people in poorer countries will be worst affected, limiting their ability to grow the economy - despite the fact they have the smallest #carbonfootprints. The World Economic Forum outlines a framework for economic equity in its recent whitepaper on achieving a just global transition to #netzero.