image credit: Pxhere

Climate change could take 18% off global GDP, warns Swiss Re

April 22, 2021

Driving home the importance of climate risk mitigation, resilience building and also the role of insurance or reinsurance in providing climate risk transfer, global reinsurer Swiss Re warns that the world’s economy risks a significant hit as the climate changes.

If no mitigating actions are taken to prevent or build resilience to climate change, a study by Swiss Re shows that there could be as much as an 18% hit to global GDP by 2050.

That’s aligned with a 3.2°C increase in global temperatures.

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