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.

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

Topics

Related

US central bank boss says Trump can't fire him

Bangladesh tycoon says Singapore citizenship is a shield against central bank ‘intimidation’

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

‘When the hurricane hit, I saw my neighbour’s boat lift into the sky’ – This is climate breakdown

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Growth hit by freeze on tax thresholds, says BoE official

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