Climate change costs already top $1tr – and are set to spiral

BusinessGreen: Inaction on climate change already costs the world economy 1.6 per cent of global GDP - approximately $1tr a year - and cost are likely to double to 3.6 per cent of GDP by 2030 if governments and businesses fail to take urgent action, an NGO has warned. Madrid-based DARA yesterday released a report commissioned by 20 governments that attempts to calculate the economic damage that will be caused through to 2030 by escalating temperatures, rising sea levels and carbon-related pollution. Entitled......

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