Climate change putting 4% of global GDP at risk, new study estimates | Fin24

Ratings firm S&P Global, which gives countries credit scores based on the health of their economies, published a report on Tuesday looking at the likely impact of rising sea levels, and more regular heat waves, droughts and storms.

Central Asia, the Middle East and North Africa and Sub-Saharan Africa regions all face sizable losses too. East Asia and Pacific countries face similar levels of exposure as Sub-Saharan Africa, but mainly because of storms and floods rather than heat waves and drought."To different degrees, this is an issue for the world," said S&P's top government credit analyst, Roberto Sifon-Arevalo.

The World Meteorological Organization also calculates that, on average, a weather, climate, or water related disaster has occurred somewhere in the world every day for the last 50 years, causing 115 daily deaths and over $202 million in daily losses.

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