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Medientyp:
E-Artikel
Titel:
Climate Change as a Challenge for the Economy
Beteiligte:
Momchilov, Georgi
Erschienen:
VUZF Reviev, University of Finance, Business and Entrepreneurship, 2021
Erschienen in:VUZF Review
Sprache:
Nicht zu entscheiden
DOI:
10.38188/2534-9228.21.4.07
ISSN:
2534-9228
Entstehung:
Anmerkungen:
Beschreibung:
<jats:p>According to historical climatology, climate and climate change have always had an impact on human society. Anthropological climate change is happening fast and will indisputably affect the global economy for decades to come. This paper provides a review of the expectations of leading economists and organisations on the magnitude of this effect. It clarifies the different approaches used to quantify the future economic loss attributed to climate change. Despite the different approaches used, all the authors examined in the paper foresee a negative impact of the climate change on the global economy. The different approaches result in different predictions about the magnitude of the impact. The authors express similar positions about the geography of the damages that will be caused by the climate change. The most affected countries will be most likely those in Sub-Saharan Africa and South Asia. A moral paradox arises that the least developed countries that are not at fault for anthropogenic climate change will have to carry the economic burden of its consequences. The paper also suggests and compares a variety of measures that could be taken in order to adopt to and mitigate the negative impacts of climate change on the economies.</jats:p>