Climate costs

Last Updated: Saturday 04 July 2015

Changes in the climate could cost the world more than US $300 billion annually, predicts a report by the United Nations Environment Program (UNEP). The report predicts that by 2050 the losses caused by tropical cyclones, loss of land from sea-level changes, damage to water supplies, agriculture and fishing stocks could cost US $304 billion each year. The study assumes that the atmospheric levels of greenhouse gases would have risen from the present level of 360 parts per million (ppm) to 550 ppm. Gerhard Berz, author of the report, says, "Most countries will suffer losses up to a few percentage points of their gross domestic product. The island nations are expected to suffer more than the others as they will be more susceptible to changes in the sea-level (Chemical and Engineering News , Vol 79, No 8).

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