Here’s stark warning in a new report from a group of actuaries: the global economy could face a 50% loss in GDP between 2070 and 2090.
That is if immediate policy actions on risks posed by climate change are not taken.
The report, “Planetary Solvency – finding our balance with nature,” is the fourth report from the Institute and Faculty of Actuaries, which was produced in collaboration with climate scientists.
“Increasingly severe climate and nature driven impacts are highly likely, including fires, floods, heat and droughts,” the IFoA report states. “This is a national security issue as food, water and heat stresses will impact populations. If unchecked then mass mortality, involuntary mass migration events and severe GDP contraction are likely.”
The report’s policy recommendations include:
- Implementing annual Planetary Sol