Climatic Changes Affecting World GDP
Temperature rises are concerning one and all. While previously, these were being attributed to disastrous events like heavy rainfall, droughts, heat waves or even retreat of glaciers. It is now being said by the Climate Vulnerability Monitor that these are having a worse impact on gross domestic product of the world.
It has been found that carbon-dioxide emissions, which are leading to pollution and climate change, have brought GDP of the US to about $1.2 trillion with 1.6% cuts in the World’s GDP. Also, the same go down by almost 3.2% by 2030.
More than five million deaths caused in 2010 were seen because of climate change as air pollution was partly responsible and hunger and diseases were amongst other causes. It is being warned that further climatic changes may result in difficulty in curbing the cost of managing economic impact
However, a few people say that the loss faced by some small islands is seen in the wake of side effects caused due to development process. Besides, developing countries would suffer the most with low-income states like Bangladesh having fewer natural resources and high population density.
"What is possible with $100 billion today will cost 10 times more in 2030”, said Sheik Hasina Wajed, Bangladesh Prime Minister.
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