- August 30, 2022
- Posted by: Stratford Team
- Category: Economy
It’s been a devastating year for the global economy when it comes to natural disasters.
Flooding in Pakistan has forced millions from their homes and killed over 1,000 people. A deadly heatwave in China is having devastating effects on the country’s economy and supply chains. And the ongoing mega-drought on the West Coast of the U.S. is now the worst in 1,200 years, while another in Europe is impacting everything from coal and nuclear power plants to manufacturers’ supply chains.
Now, a new study shows the increasing frequency of water-related natural disasters is a trend that will only continue as climate change rages on over the coming decades. The cost to governments, businesses, and consumers will be severe.
Water-related natural disasters, from floods to droughts, could cause a $5.6 trillion hit to global gross domestic product (GDP) between 2022 and 2050, according to a new study from the professional services firm GHD. That’s…
