Climate breakdown will hit global growth by a third, say central banks

New modelling finds risk to global economies much worse than previously thought, but group of central banks says even this may be an underestimate

The physical shocks caused by climate breakdown will hit global economic growth by a third, according to a risk assessment by a network of central banks.

The rise in the estimated hit to the world’s economies as a result of the shocks from flooding, droughts, temperature rises, and mitigating and adapting to extreme weather was the result of new climate modelling published this year.

Topics

European Central Bank policymakers split on the need for jumbo rate cuts as growth concerns take over
Business - CNBC - October 23
US central bank boss says Trump can't fire him
Top stories - BBC News - 17 hours ago
European Central Bank set for third interest rate cut of the year in meeting this week
Business - CNBC - October 14
Volkswagen fined £5.4m for mistreating customers; UK interest rates ‘to fall to 2.75%’ next year – business live
World - The Guardian - October 21
Global public debt will hit $100 trillion by year-end, says IMF
Business - CNBC - October 23
Japan's central bank to remain undeterred on rate hikes despite LDP's electoral shock, analysts say
Business - CNBC - October 28
‘Essential to act now’ to prevent chaotic climate breakdown, warns UN chief
World - The Guardian - 10 hours ago
Growth hit by freeze on tax thresholds, says BoE official
Business - Financial Times - October 24

Latest in World

Research boat will scan seabed to help search for those missing in Spain's floods
World - ABC News - 3 minutes ago
Gazan Rescue Service Has Stopped Operating in the North
World - The New York Times - 8 minutes ago
China unveils 10tn yuan support for debt-stricken local government
World - The Guardian - 13 minutes ago
Arteta faces Ødegaard call; fitness problems persist at Manchester City: football news – live
World - The Guardian - 15 minutes ago
European countries are spending more on defense, a think tank says
World - ABC News - 19 minutes ago

Climate breakdown will hit global growth by a third, say central banks

Topics

Related

European Central Bank policymakers split on the need for jumbo rate cuts as growth concerns take over

US central bank boss says Trump can't fire him

European Central Bank set for third interest rate cut of the year in meeting this week

Volkswagen fined £5.4m for mistreating customers; UK interest rates ‘to fall to 2.75%’ next year – business live

Global public debt will hit $100 trillion by year-end, says IMF

Japan's central bank to remain undeterred on rate hikes despite LDP's electoral shock, analysts say

‘Essential to act now’ to prevent chaotic climate breakdown, warns UN chief

Growth hit by freeze on tax thresholds, says BoE official

More from The Guardian

US election: millions of Americans reportedly risk losing health insurance under Trump – live

‘A fatal miscalculation’: masculinity researcher Richard Reeves on why Democrats lost young men

Project 2025 chief’s book urges ‘burning’ of FBI, New York Times and Boy Scouts

From higher tariffs to lower taxes, will Donald Trump’s economic plan pay off?

More than 60 arrests in Amsterdam after attacks on Israeli football fans – Middle East crisis live

Latest in World

Research boat will scan seabed to help search for those missing in Spain's floods

Gazan Rescue Service Has Stopped Operating in the North

China unveils 10tn yuan support for debt-stricken local government

Arteta faces Ødegaard call; fitness problems persist at Manchester City: football news – live

European countries are spending more on defense, a think tank says