A draft of a forthcoming United Nations report on the effects of climate change paints a dark future for the global economy. It finds that the failure to take action has made large-scale climatic shifts inevitable. These shifts will result in catastrophic weather events that will have severe effects on the global economy: slow economic growth, scarcity of resources, disruptions in supply chains, increased poverty, and general business uncertainty.
The draft report underlines the urgency of the risks from emissions of greenhouse gases released by the burning of fossil fuels. From 1970 to 2000, global emissions of GHG grew at a rate of 1.3 percent a year. From 2000 to 2010, that rate rose to 2.2 percent a year. So far this decade, that pace seems to be accelerating.
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