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Rumblestiltskin@lemmy.ml

Climate crisis on track to destroy capitalism, warns top insurer (www.theguardian.com)

submitted 1 day ago by wolfyvegan@slrpnk.net to c/economics@lemmy.ml

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[–] humanspiral@lemmy.ca 3 points 1 day ago

Global carbon emissions are still rising and current policies will result in a rise in global temperature between 2.2C and 3.4C above pre-industrial levels. The damage at 3C will be so great that governments will be unable to provide financial bailouts and it will be impossible to adapt to many climate impacts

Watershed truth by an insurer. The present/near term impact of global warming is in insurance sector. Can't simultaneously increase replacement cost of home and destruction risk. Exponential damage levels on top of current situation happen with an additional 1.5C temperature increase.