From crop losses – insurance companies paid out $27 billion to farmers between 1991 and 2017 due to global warming – to loss of pasture for herd animals to interruptions in the supply chain due to natural disasters, the gross domestic products (GDP) of countries across the world are taking hits. The world’s workforce is also facing challenges from global warming, from instances of heat stress or reduced productivity and diminished well-being.
A recent Deloitte Economics Institute report, “The Turning Point,” found that by 2050, with global average warming exceeding 2 degrees Celsius, GDP in Asia Pacific alone would be more than 5.5 percent lower than if global warming was halted. If global average warming continues to increase, the losses will encompass 8 percent of the region’s GDP by 2060 -- and $7.5 trillion in GDP lost. These enormous numbers are why one expert says it’s imperative for Asian Pacific companies to take action today, shooting for near net zero emissions and making other changes to keep global warming averages to as close to 1.5 degrees Celsius as possible.
“Given the region’s large share of the global population and emissions, climate vulnerabilities, and technological and financial strengths, it’s no exaggeration to say that the fight against climate change will be won or lost in Asia Pacific,” explains Cindy Hook, Deloitte Asia Pacific’s CEO.
Source : https://www.reuters.com/brandfeature/deloitte-the-turning-point-on-climate-change-the-new-asia-pacific-economic-engine?twclid=11446914460690563081253