Higher temperatures and more extreme weather are likely to lower Canada's real gross domestic product by 5.8 per cent in 2100, assuming countries around the world fully meet their climate commitments.
Changing precipitation patterns, along with higher temperatures, affect the economy through their impact on agricultural output, labor productivity, human health, coastal sea levels, energy use, property damage, and tourism, according to report released Tuesday by the Parliamentary Budget Officer in Ottawa.
The 5.8 per cent scenario assumes that climate pledges by governments around the world are met in full, and on time, limiting the global rise in temperatures to 1.8C compared to pre-industrial levels. The report is meant to be a “first step” in the watchdog’s analysis of the economic impact of climate change.
The planet is on track to warm 2.1C to 2.9C by the end of the century compared to pre-industrial times, according to the UN Nations Framework Convention on Climate Change. Countries, including Canada, that ratified to the 2015 Paris Agreement aim to keep that rise to 1.5C, although the UN said last month there is “no credible pathway” to that goal.
If governments fail to meet their policy commitments, and instead maintain their current trajectories, Canada’s GDP would fall an addition three-quarters of a percentage point, or 6.6 per cent, the watchdog said.
There is going to be Canada 70 years from now?
Lol you're projecting to 2100. I'm 99% sure that is going to be way off.
Lol 🤡
Enough of the bullshit.
In 2100. Seriously? They couldn’t accurately project a budget that was 4 months old. Canada was already projected to have the lowest growth of any G7 nation in the next 30 years because of the sheer incompetence of those in power.
Lol. Spelled Trudeau & Freeland wrong.
What utter meaningless nonsense.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BNNBloomberg - 🏆 83. / 50 Read more »