Crossing Climate Tipping Points Will Slash Global GDP

As the planet rapidly warms, the global economic outlook cools, casting long shadows on global economic growth. Recent scientific research and record-breaking climate events reveal climate change is not just an environmental crisis but an economic one, visibly contracting the global GDP.It is becoming increasingly hard to ignore the economic damage of climate change.

and reaching past 1.5°C would push us past several more. One of the dangerous characteristics of some tipping points is their “irreversibility” – once we go over the cliff, we cannot climb back up. The frequency and intensity of natural disasters are climbing, leading to higher claims and pushing insurance firms to either increase premiums or withdraw coverage in high-risk areas altogether., leading to increased premiums and rising affordability issues. This trend is unsustainable and could collapse regional insurance markets, particularly as key tipping points approach, such as the Atlantic hurricane season.

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