Climate change could cut Malaysian economic growth 20% below expectations by 2050 — report

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  • 23 Apr 2021
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Climate change could cut Malaysian economic growth 20% below expectations by 2050 — report

Malaysia has been listed among several nations that would each see an economic growth 20% below what they could otherwise expect by 2050 if the increase in global temperatures is held to 2°C.

In a report yesterday, The Wall Street Journal (WSJ) said rising temperatures are likely to reduce global wealth significantly by 2050 as crop yields fall, disease spreads and rising seas consume coastal cities, a major insurance company warned yesterday, highlighting the consequences if the world fails to quickly slow the use of fossil fuels. Citing a report from Swiss Re, one of the world’s largest providers of insurance to other insurance companies, the WSJ said the effects of climate change can be expected to shave 11% to 14% off global economic output by 2050 compared to growth levels without climate change. That amounts to as much as US$23 trillion (about RM94.59 trillion) in reduced annual global economic output worldwide as a result of climate change, it said..

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