A new report by the London School of Economics and Political Science is the first comprehensive study to use an economic model to put a number on the climate value at risk.
A new report published on Monday has put the potential cost of climate change to the world economy at as much as US$24 trillion by 2100, underlining the urgent need for businesses worldwide to pay attention to it.
The report, led by researchers at the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science and Vivid Economics, is the first comprehensive study to use an economic model to put a number on the climate value at risk.The study, published in the journal Nature Climate Change estimated that an average US$2.5 trillion, or 1.8 per cent, of the worlds financial assets would be at risk from the impacts of climate change if global temperatures rise by 2.5 deg C above its pre-industrial level by 2100.
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Kenya's economy will accelerate slightly in 2016, driven by loose fiscal policy, infrastructure projects and robust private consumption, according to Focus Economics.
The Spain based economic research firm forecast the country's economy will grow at a rate of six per cent in 2016, which is unchanged from November's forecast.
"Nevertheless, a large fiscal deficit and rising public debt, a weak shilling and tight monetary policy represent challenges for the economy, along with corruption and insecurity," the firm said in the latest consensus forecast for Sub-Saharan Africa.
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