Millions of dollars could be lost if G20 countries don’t order their climate policies

Millions of dollars could be lost if G20 countries don't order their climate policies

Rising temperatures and extreme heat waves could cause severe droughts, threatening water supplies needed for agriculture, causing massive loss of life and increasing the risk of deadly fires (Reuters)

The world’s most powerful nations will gather in Rome, Italy this weekend, hours before the start of the climate summit in Glasgow, Scotland. Overall, its members invest about 90% of the world GDP, two-thirds of the world population, 80% of international trade, and more than 80% in research and development.

All these figures show that their economies are also the hardest hit by the climate crisis. by the way, why Rising temperatures will have disastrous consequences over the next three decadesA well-known report today says, namely G20 atlas of climate impacts.

Agriculture, tourism and the coastal sector are most vulnerable to loss of up to 13% of the food supply, livelihoods of millions of people and national GDP by 2100.. “We need to reduce emissions quickly to avoid the worst impacts and stabilize economies”, the report points to why a baby born this week may experience these effects.

Argentina is one of the G20 countries and even the study’s forecasts are not good: “It could cause systemic damage and negative impacts on development due to climate change. The mid-century GDP deficit could reach 2.8% in a high-emissions scenario. By the end of the century, GDP should decrease by 2.5% in the low-emission scenario and 8.2% in the high-emission scenario.

The report was submitted by Euro-Mediterranean Center for Climate Change (CMCC), the main Italian research center on climate change e National Contact Point for the Intergovernmental Panel on Climate Change. The atlas, the first study of its kind, collects scientific projections of what climate impacts will look like in the world’s richest countries in the coming years. It shows that on the high emissions path, climate impacts are causing devastating damage to the G20.

A famous report called the G-20 Atlas of Climate Impacts (Getty Images) states that rising temperatures will have dire consequences for the next three decades.

Research has shown that Rising temperatures and extreme heat waves can cause severe droughts, threatening water supplies needed for agriculture, causing widespread loss of life and increasing the risk of deadly fires.

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In some countries it can mean:

* NS heat waves It could last at least ten times longer in all G20 countries, and heat waves in Argentina, Brazil and Indonesia will last about 60 times longer in 2050.

* in India, Reduced production of rice and wheat This could lead to economic losses of up to €81 billion and a loss of 15% of farmers’ income by 2050.

* in Australia, Wildfires, Coastal Floods and Hurricanes This could increase insurance costs and reduce the value of assets by AU$611 billion by 2050.

Some countries will be most affected, such as Canada, which could see GDP decline by at least 4% by 2050 and 13% by 2100 – more than €133 billion.

donatella spanoThe CMCC, which coordinated the report, said: “From droughts, heat waves and sea level rise, shrinking food stocks and threats to tourism, these findings demonstrate the severity of climate change that will affect the world’s major economies, unless we act now.” Doing. and set the world on the path to a better, fairer and more stable future.”

From coastal erosion to the spread of tropical diseases, all G-20 countries are at risk of the effects of climate change. Research has shown that:

* in Europe, dead of heat They could go from 2,700 to 90,000 per year by 2100 on the high-emissions path.

* 2050. In potential catch In Indonesia this can be reduced to a fifth, leading to the uprooting of hundreds of thousands of people.

* NS sea ​​level rise Coastal infrastructure could be destroyed in 30 years, with Japan on the high carbon path losing €404 billion and South Africa €815 million by 2050.

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lorenzo tubianacapo European Climate Foundation and one of my engineers Paris AgreementLei said: “The window for action is closing fast. As G20 countries catalyze economic recovery from COVID-19 and prepare climate plans ahead of COP26, they face an immediate choice: to protect the global economy and rapidly transition to a low-carbon future. Or derail the global economy by implementing polluting policies. The time has come for the G20 to convert its economic agenda into a climate agenda.”

Argentina and its potential

10 days ago Climate Transparency Report Like every year, it brought together experts from around the world to promote ambitious climate action among G20 countries. It reflects each country’s performance in terms of climate policy.

One of the most important points to warn against this year is Renewable energy will increase from 10% to 12% in 2021. However, it is also estimated that Coal and gas consumption will grow in the same direction across all G20 countries, with an increase of 5% in 2021 and 12% between 2015 and 2020.


“It is very disappointing that a decade has passed since the commitment to rationalize and eliminate inefficient subsidies for fossil fuels, but G-20 members continue to pour billions of dollars into dirty fuels that lead to climate change.”shaft Enrique Murtua Constantinides, From Foundation for the Environment and Natural Resources (FARN).

As the Climate Transparency Report makes clear, at this pace it will be very difficult to meet emissions reduction commitments by 2030, not to mention the long-term goal of achieving carbon neutrality.


In addition, in December 2020, Argentina presented its second nationally determined contribution (commitment under the Paris Agreement), which It promises to reduce its emissions by the equivalent of 359 million tonnes of carbon dioxide by 2030. In other words, this would reduce the country’s emissions by 2.5% in 2016.


The report argues that if Argentina is to act in line with ambitious climate action and a thriving quality of life, it must:

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* Seriously and gradually phase out subsidies fossil fuel Stop promoting hydrocarbon extraction.

* Provoke development of renewable energy With clear and long-term regulations that can provide an equal condition of safety and competitiveness for the sector, instead of risking the future by promoting fossil gas.

* To protect ecosystems, especially forests and wetlands, which can provide excellent opportunities for climate change mitigation and adaptation.

Scientific forecasts suggest that future scenarios are not very promising. And those landscapes that previously seemed distant are getting closer and closer.


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