Study Predicts Up to $24.7T Loss by 2060 from Climate's Blow to Supply Chains
March 15, 2024A study from King's College London predicts significant economic damage from climate change on global supply chains, with a potential for economic stagnation.
Manufacturing-reliant nations such as China and the US are particularly at risk of supply chain disruptions due to climatic events.
Economic losses due to these disruptions may range from $3.75 trillion to $24.7 trillion by 2060.
Climate-induced extreme weather and droughts are impacting vital trade routes, causing economic instability, particularly in the Americas.
The study calls for increased global cooperation in adapting to climate change to avoid cascading economic effects.
Climate change is flagged as the most significant disruptive force leading to rising costs, inflation, and social challenges.
Researchers warn of exponential increases in economic losses with further global warming, advocating for strengthened global supply chain collaboration.
Summary based on 2 sources
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Sources
Earth.com • Mar 15, 2024
Climate crisis: Global supply chains face $25 trillion in lossesCounterfire • Mar 15, 2024
Drought, disruption and climate disaster