Climate change: global assets worth up to US$12.7 trillion to be exposed to climate risks by 2100, report by UN-backed panel says
- The world faces unavoidable climate hazards as global warming reaches 1.5 degrees Celsius within two decades from pre-industrial levels, IPCC report says
- Asia ‘potentially more vulnerable to climate change’, AECOM executive says
“Many of the changes are at risk of becoming irreversible,” Mami Mizutori, special representative of the UN secretary-general for disaster risk reduction, said in a statement. “On our current trajectory, the world is set to breach the 1.5 degrees safe global temperature limit by the early 2030s, spiralling to dangerous levels of disaster risk.”
The report, Climate Change 2022: Impacts, Adaptation and Vulnerability, was approved on Sunday by 195 member governments of the IPCC, which was created by the United Nations Environment Programme and the World Meteorological Organization in 1988.
By 2100, global assets exposed to once-in-100 year coastal flood risk are projected at between US$7.9 trillion and US$12.7 trillion, even if carbon dioxide emissions start declining by around 2045 to reach roughly half of the levels of 2050 by 2100.
