Climate change is real and has been impacting communities, societies, nations, and territories in an unprecedented manner reflected not only in losses and damages to infrastructure and other such elements but also in collateral damages including lives and livelihoods, more particularly for the poor and vulnerable. India is no exception to now frequently occurring extreme...
Tag: 55
Climate Change-Related Heat, Drought, and Flooding Are Creating Extensive Loss and Damage in Many Regions of Germany
Germany is experiencing a major impact from climate change at all levels of its economy and society resulting in considerable loss and damage. This year drought has intensified and has been classified as severe, as shown in the image below of the UFZ (Helmholtz – Zentrum für Umweltforshung) monitor, which shows the state of soil...
France Faces Considerable Loss and Damage within Its Own Borders and in Its Overseas Territories
The Global Stocktake of the Paris Agreement (GST) is defined by the UNFCCC as “a process for taking stock of the implementation of the Agreement with the aim to assess the world’s collective progress towards achieving the purpose of the agreement and its long-term goals.” The GST is an essential part of the Paris Agreement,...
EU Climate Change Adaptation Efforts are Pivotal in Lessening Social and Economic Losses
The consequences that climate change is expected to have on EU countries between now and 2050 are grim. While the impact of climate change is predicted to vary among regions and between seasons, the European Commission, the Intergovernmental Panel on Climate Change (IPCC), and other institutions posit that no country in the EU will be...
Climate Change Effects in China Exceed the Global Average, Leading to an Annual Average of US $40 Billion in Overall Economic Loss and Damages
China, like many countries, has been feeling the effects of climate change over the past decades in the form of an increase in extreme weather events. Some estimates say that floods, droughts, and storms are incurring direct economic losses of 25 to 37.5 billion USD per year. Other reports place that number at 1% of...
Canada’s Economy Could Shrink by 6.9% Annually by 2050 Without More Ambitious Climate Action
Climate change loss and damages expected in Canada between now and 2050 are measurable. Most recently, a Queen’s University/Institute for Sustainable Finance report (April 2022) stated capital output lost due to physical damages under different warming scenarios by the end of the century (with 2030, 2050, and 2070 as inflection points) will grow dramatically. This...
Climate Change is a Central Concern for Australia’s Financial Stability
This post examines the loss and damage that climate change is expected to have on Australia between now and 2050. Assessments of climate change loss and damage are a key aspect of the Paris Agreement’s ongoing UNFCCC-sponsored Global Stocktake, an effort to assess the ability of the Paris Agreement to meet its goals. Loss and...
An Increase in Deforestation, Fires, Land Invasion, and Illegal Mining in the Amazon
Humanity needs to cut its greenhouse gas emissions by almost half by 2030 and net zero emissions by 2050 if it is to stand a chance of meeting the Paris Agreement goal of stabilizing Earth’s warming at 1.5°C and avoiding the worst impacts of the climate crisis. As the sixth largest emitter on the planet,...