In last week’s column, I had written about the massive financial losses that the world, and India, has been incurring due to climate change. A major new study published in the interim gives us a sense of just how much worse this can get by 2050.
The World Wildlife Fund’s (WWF’s) Global Futures report says that if the world continues to burn fossil fuels at current rates, the global economy stands to suffer losses worth $10 trillion (around ₹700 trillion now), at the very minimum, by 2050. As more and more natural assets get stripped, from forests to wetlands to coral reefs, we will lose all the economic benefits we receive from them.
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