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"Losses could soar to $24tn and wreck the global economy in worst case scenario, first economic modelling estimate suggests"
"The new study, published in the peer-reviewed journal Nature Climate Change, used economic modelling to estimate the impact of unchecked climate change.
It found that in that scenario, the assets were effectively overvalued today by $2.5tn, but that there was a 1% chance that the overvaluation could be as high as $24tn.
The losses would be caused by the direct destruction of assets by increasingly extreme weather events and also by a reduction in earnings for those affected by high temperatures, drought and other climate change impacts."
Read the Guardian article
#climate catastrophe #stranded assets #economy #global economy #climate action #extreme weather events # economic modelling #financial assets
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