Business-as-Usual Emissions Could Deliver $24 Trillion Hit to Global Economy

Article by Lauren McCauley, April 4, 2016, highlights the findings of the London School of Economics, which released a report saying we are on target to do 24 trillion dollars damage to the global economy through climate change. The following points are made in the article:

1. The financial damage from climate change will damage from 2 to 17 percent of global assets.
2. Moving away from fossil fuels will only reduced the percentage, and currently we are not doing moving away from fossil fuels at a fast enough pace.
3. "Our research illustrates the risks of climate change to investment returns in the long run and shows why it should be an important issue for all long-term investors, such as pension funds, as well as financial regulators concerned about the potential for asset-price corrections due to an awareness of climate risks," Dietz said. He added that, as the first comprehensive economic model on climate change, the study "should be seen as one of the first words on the topic, not the last."

Climate Change from Fossil Fuels will Collapse Economies