{"id":7832,"date":"2020-03-04T06:10:28","date_gmt":"2020-03-04T06:10:28","guid":{"rendered":"\/blog\/?p=7832"},"modified":"2020-04-13T05:08:10","modified_gmt":"2020-04-13T05:08:10","slug":"what-is-the-economic-impact-of-climate-change","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/","title":{"rendered":"What is the Economic Impact of Climate Change?"},"content":{"rendered":"\n

Rising\nsea levels, melting ice caps, emissions followed by pollution, unseasonal rain\nand floods, unprecedented temperature rise…climate change is a very clear and\npresent danger we can no longer afford to ignore. <\/p>\n\n\n\n

In\nfact, last month was the warmest January since 1880, when records were\nmaintained, according to the National Centers for Environmental Information of\nthe US\u2019s National Oceanic and Atmospheric Administration (NOAA). This must\ncertainly ring warning bells. <\/p>\n\n\n\n

A\nUnited Nations Environment Programme (UNEP) report (1) shows that even if all\ncountries were to meet their commitments to emissions, the world would still\nexperience over 3 deg C warming over pre-industrial standards towards the end\nof this century. <\/p>\n\n\n\n

\"Climate<\/figure><\/div>\n\n\n\n

So, what is the economic impact of climate change?<\/strong><\/p>\n\n\n\n

Research\nby the International Institute for Applied Systems Analysis (IIASA) points out\nthat certain countries like China could lose nearly 12 percent of GDP loss. The research\nalso notes that up to 2050 the loss in GDP worldwide is similar to what we have now been\nexperiencing, and is significant in itself. But by 2100, if no drastic measures\nare taken to mitigate the climate crisis, the global GDP losses could exceed 4 percent. <\/p>\n\n\n\n

The\nworld has still not forgotten the massive destruction of 11 million hectares of\nland across Australia, thanks to bush fires, and the loss of over one billion\nanimal lives. Although bush fires are a regular phenomenon in Australia, the\nfrequency and intensity in the last few months seem to be unprecedented. <\/p>\n\n\n\n

A\npoll conducted by the Australia Institute showed that nearly 1.8 million\nworkers in Australia said the health impact of the bushfires were so bad that\nit led them to missing work. The Institute said this loss of productivity alone\nmay result in the Australian economy poorer by $1.3 billion. Economists in\nAustralia have warned that by mid-year, the economic impact of the bush fires could leave a\n$10-million hole in the GDP,\namounting to 0.5 percent of the GDP.<\/p>\n\n\n\n

Economic impact<\/strong> of air pollution<\/strong><\/p>\n\n\n\n

According\nto a report (2) released by the Centre for Research on Energy and Clean Air and\nGreenpeace Southeast Asia, air pollution has an economic impact of nearly $3\ntrillion globally, amount to over 3 percent of global GDP. <\/p>\n\n\n\n

India and temperature rise<\/strong><\/p>\n\n\n\n

\"Climate<\/figure><\/div>\n\n\n\n

(Source: mckinsey.com*)<\/p>\n\n\n\n

A\ncomprehensive report recently brought out by the McKinsey Global Institute\nsheds light on the economic\nimpact of climate\nchange across the globe, with case studies from different countries.\nTalking of India, the report says that severe heat will diminish the capacity\nof the workforce to be at their productive best over the next few decades. By\n2030, the report notes, the loss in working hours (daylight) could pose an\nannual risk in the range of 2.5 to 4.5 percent of the GDP. \n<\/p>\n\n\n\n

The positive measures<\/strong><\/p>\n\n\n\n

In\nfact, climate change\nhas become such an urgent danger that it hogged the spotlight at the World\nEconomic Forum\u2019s summit at Davos last month. Every year, the WEF ranks risks\nposed to the world, and in 2020, all the risks pertain to the environment. One\nof the significant initiatives at the Davos meet was the launch of One Trillion\nTrees, an afforestation drive, aimed at restoring and conserving one trillion\ntrees up to 2030. <\/p>\n\n\n\n

Recently,\nover 1,000 global corporate entities have come together to enable guidelines so\nas to disclose risks that their businesses face owing to climate change. This was\nannounced by the Task Force on Climate-related Financial Disclosures (TCFDs)\nled by billionaire Michael Bloomberg.<\/p>\n\n\n\n

In\nIndia, meanwhile, leading philanthropists have launched the India Climate\nCollaborative (ICC) to establish a platform for voices in the climate activism\nsphere and a range of innovative solutions to emerge. <\/p>\n\n\n\n

Meanwhile,\nthere is growing interest among investors across the world to invest in firms\nthat meet Environmental, Social and Governance (ESG) standards. Green investing\nseems to be the way forward for many.  <\/p>\n\n\n\n

In conclusion<\/strong><\/p>\n\n\n\n

To conclude, climate change is a pressing issue that needs the world\u2019s attention, and that includes the corporate and investor community. If ignored, the economic impact of the crisis may be felt across the globe. Whether you want to invest in financial products or grow your business, it is important to understand more about climate change and the economic costs involved. Tata Capital provides you with all the information you need about loans and investment options, so you can grow your wealth and secure your future.<\/p>\n\n\n\n

Know More<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Rising sea levels, melting ice caps, emissions followed by pollution, unseasonal rain and floods. <\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":7834,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[37],"tags":[],"class_list":["post-7832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth-services"],"yoast_head":"\nFind Out the Impact of Climate Chnage on Economy - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"Climate change not only poses risks to health and livelihoods but also has a huge economic impact across the globe. Check out how climat change can affect us economically.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Find Out the Impact of Climate Chnage on Economy - Tata Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Climate change not only poses risks to health and livelihoods but also has a huge economic impact across the globe. Check out how climat change can affect us economically.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-04T06:10:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-13T05:08:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/03\/what-is-the-economic-impact-of-climate-change.png\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/\",\"name\":\"Find Out the Impact of Climate Chnage on Economy - Tata Capital Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2020-03-04T06:10:28+00:00\",\"dateModified\":\"2020-04-13T05:08:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"description\":\"Climate change not only poses risks to health and livelihoods but also has a huge economic impact across the globe. Check out how climat change can affect us economically.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.tatacapital.com\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.tatacapital.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What is the Economic Impact of Climate Change?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/\",\"name\":\"TATA Capital Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\",\"name\":\"Tata Capital\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"caption\":\"Tata Capital\"},\"sameAs\":[\"https:\/\/tata-blog.osian.dev\/blog\"],\"url\":\"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Find Out the Impact of Climate Chnage on Economy - Tata Capital Blog","description":"Climate change not only poses risks to health and livelihoods but also has a huge economic impact across the globe. Check out how climat change can affect us economically.","robots":{"index":"noindex","follow":"nofollow"},"og_locale":"en_US","og_type":"article","og_title":"Find Out the Impact of Climate Chnage on Economy - Tata Capital Blog","og_description":"Climate change not only poses risks to health and livelihoods but also has a huge economic impact across the globe. Check out how climat change can affect us economically.","og_url":"https:\/\/www.tatacapital.com\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/","og_site_name":"TATA Capital Blog","article_published_time":"2020-03-04T06:10:28+00:00","article_modified_time":"2020-04-13T05:08:10+00:00","og_image":[{"width":770,"height":400,"url":"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/03\/what-is-the-economic-impact-of-climate-change.png","type":"image\/png"}],"author":"Tata Capital","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tata Capital","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.tatacapital.com\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/","url":"https:\/\/www.tatacapital.com\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/","name":"Find Out the Impact of Climate Chnage on Economy - Tata Capital Blog","isPartOf":{"@id":"https:\/\/www.tatacapital.com\/blog\/#website"},"datePublished":"2020-03-04T06:10:28+00:00","dateModified":"2020-04-13T05:08:10+00:00","author":{"@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a"},"description":"Climate change not only poses risks to health and livelihoods but also has a huge economic impact across the globe. Check out how climat change can affect us economically.","breadcrumb":{"@id":"https:\/\/www.tatacapital.com\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.tatacapital.com\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.tatacapital.com\/blog\/wealth-services\/what-is-the-economic-impact-of-climate-change\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.tatacapital.com\/blog\/"},{"@type":"ListItem","position":2,"name":"What is the Economic Impact of Climate Change?"}]},{"@type":"WebSite","@id":"https:\/\/www.tatacapital.com\/blog\/#website","url":"https:\/\/www.tatacapital.com\/blog\/","name":"TATA Capital Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a","name":"Tata Capital","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g","caption":"Tata Capital"},"sameAs":["https:\/\/tata-blog.osian.dev\/blog"],"url":"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/"}]}},"featured_image_url":"https:\/\/tata-blog.osian.dev\/blog\/wp-content\/uploads\/2020\/03\/what-is-the-economic-impact-of-climate-change.png","_links":{"self":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/7832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/comments?post=7832"}],"version-history":[{"count":3,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/7832\/revisions"}],"predecessor-version":[{"id":7972,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/7832\/revisions\/7972"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/media\/7834"}],"wp:attachment":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/media?parent=7832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/categories?post=7832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/tags?post=7832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}