LONDON : Climate change could see 4 per cent of global annual economic output lost by 2050 and hit many poorer parts of the world disproportionately hard, a new study of 135 countries has estimated.
Bangladesh, India, Pakistan and Sri Lanka's exposure to wildfires, floods, major storms and also water shortages mean South Asia has 10 per cent-18 per cent of GDP at risk, roughly treble that of North America and 10 times more than the least-affected region, Europe. For most countries, exposure to, and costs from climate change are already increasing. Over the past 10 years, storms, wildfires, and floods alone have caused losses of around 0.3 per cent of GDP per year globally according insurance firm Swiss Re.
But he said the new data was not about to be plugged into the firm's sovereign ratings models, as there were still too many uncertainties such as how countries might adapt to the changes.
Sad but it’s issue of consciousness of global leaders