Source: https://news.exeter.ac.uk/faculty-of-environment-science-and-economy/current-climate-policies-risk-catastrophic-societal-and-economic-impacts/

The global economy could face a 50% loss in GDP between 2070 and 2090 unless immediate policy action on risks posed by the climate crisis is taken, warns a new report by the Institute and Faculty of Actuaries (IFoA) and University of Exeter.

Current climate targets accept large amounts of largely unrecognised nature and societal risk. This includes accepting triggering multiple tipping points where climate change thresholds, once crossed, may be irreversible and limit our ability to control climate change. There is currently no realistic plan in place to avoid this scenario.

Climate and nature risks are driven by human activity and must be addressed now to ensure the security and wellbeing of society. Populations are already impacted by food system shocks, water insecurity, heat stress and infectious diseases. If unchecked, mass mortality, mass displacement, severe economic contraction and conflict become more likely.