Economic growth could fall 50% over 20 years from climate shocks, say actuaries

The new report from the IFoA and the University of Exeter warns that without accelerated decarbonisation, global economic growth could fall by 50% between 2070 and 2090 due to climate change shocks.

Sandy Trust emphasized that the current economic predictions underestimate the damages from global heating, which could lead to catastrophic outcomes and confuse political leaders into inaction.

With global temperatures likely to exceed 3C by 2050, the report outlines potential consequences such as over 4 billion deaths, sociopolitical fragmentation, and state failures.

The Institute and Faculty of Actuaries calls for immediate action from political leaders, as the impacts of climate change, including extreme weather events, are driving significant threats to global economies.

Read at www.theguardian.com