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Unchecked climate change to cost nations billion in debt
The economic Fallout of climate change that could impact Nations worldwide is that you know climate change of course it is having far-reaching impacts on one and all according to a study Rising carbon emissions may lead to Soaring debt servicing costs for 59 countries within the next decade right and as the world grapples with the consequences of unchecked climate change researchers want of potential credit score downgrades as well for major players like China India the United States and Canada the implications are dire with higher costs of borrowing phonations translating into increased corporate debt the economic damage caused by climate change is already evident with recent heat waves shaving off 0.6 percent points from Global output while Insurance giant Allianz sounds the alarm rating agencies have been cautious in quantifying the risks posed by climate change in their assessments however a collaborative study by the University of East Anglia and the University of Cambridge employs AI models and climate economic projections to create a climate adjusted rating system now in the wake of a worst case scenario with Rising emissions Global debt servicing costs could surge into the hundreds of billions of dollars developing nations with lower credit scores.
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