Photo Credit: scitechdaily.com, https://scitechdaily.com/startling-consequences-of-global-warming-oceans-are-losing-their-memory/
A new report from risk management experts at the Institute and Faculty of Actuaries finds that the global economy could face 50% loss in gross domestic product (GDP) between 2070 and 2090 from the catastrophic shocks of climate change unless immediate action by political leaders is taken to decarbonize and restore nature. At 3 degrees Celsius or more of heating by 2050, there could be more than 4 billion deaths, significant sociopolitical fragmentation worldwide, failure of states (with resulting rapid, enduring, and significant loss of capital), and extinction events.
Levels of carbon dioxide, the most significant planet-warming gas, rose more quickly than ever previously recorded last year. Concentrations of carbon dioxide (CO2) are now more than 50% higher than before humans started burning large amounts of fossil fuels.
Source: https://www.bbc.com/news/articles/c30dn5dn53jo
The global average temperature set a new record in 2024, worsening the extreme heatwaves, storms and floods that affected billions of people. The earth passed the 1.5C (2.7F) level agreed as a target by the Paris climate agreement for the first time. The UN secretary general, António Guterres, blamed the fossil fuel industry for pocketing profits while their products “wreak havoc.”
Source: Copernicus Global Climate Highlights: https://climate.copernicus.eu/global-climate-highlights-2024
According to the Climate Research Accountability Project, in the first two weeks of 2025 the total wealth accumulation of Trump’s top 15 fossil fuel billionaires has increased by $2.42 billion.