We have seen the first - and probably not last - Climate-Change Bankruptcy with the fast fall of PG&E after California’s wildfires.
A 2018 report from the Intergovernmental Panel on Climate Change estimated that global economic damages by 2100 would reach $ trillion with a 1.5-degrees Celsius of warming of the planet, $ trillion with 2 degrees Celsius of warming and $ trillion with 3.7 degrees Celsius of warming.1 Due to the droughts in Zambia, the water and power shortages are set to shrink the country’s economy by 6.5 per cent this year.