Friday, December 8, 2023

The climate crisis will cost the Australian economy $1.156 billion

The climate crisis It will cost about 1,156 million dollars in australian in the loss of harvest in 30 years, as warned this Tuesday by the Treasury Minister of the country of the sea, Jim Chalmers.

“If no further action is taken, Australia’s harvest could decline by 4% by 2063, costing us around $1.8 billion (Australian) GDP in dollars today,” he said. Chalmers in a speech at a national drought forum held in the northeastern city of Rockhampton.

These data are based on projections made by Ministry of Treasury in the effect of an increase in global temperature of about 2 degrees, a situation that affects the intensity and frequency of forest fire, droughts y coral bleaching among other disasters, at australian.

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Climate events like forest fire on Black Summer which happened between 2019 and 2020, as well as energy flood October 2022 on the east coast of australian together they are worth about 3 billion Australian dollars.

“The pressure of a changing climate and natural disasters most often is constant, cascading and cumulative,” he emphasized Chalmers according to the transcript of his speech published on his official website.

These projections were released a month after an official intergenerational report warned that, if australian and other countries have not adopted measures to reduce the climate change causing a drop between 0.2 and 0.8% of the country’s productivity in the year 2063.

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This reduction in productivity translates, if the global warming 2 degrees, in losses of up to 423 billion Australian dollars for the economy of the ocean country.

The current Labor Government, which took power in May 2022, ended 12 years of conservative policies committed to reducing polluting emissions by 43% by 2030 (an improvement over the previous goal of 26-28%), and achieving zero emissions by 2050.

In addition, the Executive of australian one of the biggest polluters on the planet when its exports to fossil fuels aims to achieve neutral emissions by 2050 and become the power of renewable energy.

Despite the progress, hundreds of Australian scientists and engineers last week asked the Government to advance its commitment to achieve neutral emissions by 2035, 15 years earlier than agreed. to meet the “grand challenge” of limiting the global warming at 1.5 degrees Celsius.

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