Just because the United States has re-joined the Paris Agreement doesn’t mean that the world is on a path to a better climate future. The 2015 agreement, in which signatories pledged to collectively cap global warming at “well below” 2°C above pre-industrial levels, is only the first step. Member nations still have to adopt ambitious carbon emission reduction plans, known as Nationally Determined Contributions (NDCs), and with the current level of commitments the world is on track for a global temperature rise of more than 2.5°C.
Whichever side of the subjective city-versus-rural debate you’re on, the objective laws of thermodynamics dictate that cities lose on at least one front: They tend to get insufferably hotter, more so than surrounding rural areas. That’s thanks to the urban heat-island effect, in which buildings and roads readily absorb the sun’s energy and release it well into the night. The greenery of rural areas, by contrast, provides shade and cools the air by releasing water.
Covid-19 likely emerged from the wilds near southern China, then found residence in horseshoe bats before making the jump to humans. The virus, as of this writing, has infected 63 million people and caused 1.5 million deaths around the world. The global economic impact of the pandemic was estimated at $8 trillion to $16 trillion in July 2020 — it may be $16 trillion in the U.S. alone by the fourth quarter of 2021 (assuming vaccines are effective at controlling it by then). The amount of human suffering this tiny microbe has caused is incalculable: lost loved ones, vanished jobs, broken families, and lingering sickness from a virus that will eventually retreat but will never disappear.
The world is getting warmer, but the global response has “remained muted” despite efforts like the Paris Climate Agreement — and millions of lives are at risk as a result. This according to a report published Wednesday by The Lancet, a leading peer-reviewed medical journal.
According to the World Bank, the number of people in poverty will climb from 68 million to 132 million by 2030 because of climate change. The existence of global poverty is common knowledge, but many of us remain unaware of the leading cause. Climate change is the culprit of the devastating droughts and natural disasters that have created lasting effects on poverty levels worldwide. The consequences of climate change include food shortages, water shortages, loss of shelter, and a loss of livelihood, each of which are defining factors of poverty.
Society has over invested in fossil fuels and unsustainable practices which create enormous externalities under the guise of misunderstanding the risks and by exploiting the ‘returns’ of the natural world. So how do we fix this gregarious exploitation?
We must quantify the financial risk related to climate change and internalize the physical and transition costs of creating an environmentally sustainable economy- that is precisely what Riskthinking.Ai helps decision-makers do.
A report commissioned by federal regulators overseeing the nation’s commodities markets has concluded that climate change threatens U.S. financial markets, as the costs of wildfires, storms, droughts and floods spread through insurance and mortgage markets, pension funds and other financial institutions. Riskthinking helps decision-makers better understand the climate-related financial risks they face and respond accordingly.
Firefighters battled nearly two dozen wildfires in California yesterday after a week of raging blazes blackened more than 1 million acres across the state. The rapidly spreading fire, which has killed five people, destroyed more than 1,000 structures and forced thousands to flee, is the result of hotter temperatures, less dependable precipitation and snowpack that melts sooner leading to drier soil and parched vegetation, shows how climate change is affecting the nation’s most populous state.
India is particularly vulnerable to the effects of climate change. The hotter temperatures projected here will have a devastating impact on human health and wellbeing, as well as food security, and worker productivity.