Reports and Observers Reveal the Impact of Climate Change on the World
Reports and observers have revealed the impact of climate change on the world
Climate-related news is often negative to a large extent, from the increasing rates of ice melting to various natural phenomena with negative consequences that have affected the world due to this climate crisis. There is now significant global interest in climate issues after the entire world has been affected by the results of climate change. along with the numerous repercussions it has caused.
Impact of Climate Change
A report by Maat Group stated that the global economy would incur $23 trillion in losses by 2050. Additionally, there were $72 billion in economic losses in the first half of 2022. and the cost of adaptation for developing countries to climate change by 2030 is $300 billion. It is noted that 2% to 9% of African countries’ GDP is spent on addressing the effects of climate change. and the economic losses in the United States in the past year reached $145 billion.
Pressure on Western Leaders Last week, headlines in the press and news agencies were filled with news of British Prime Minister Rishi Sunak reversing some environmentally friendly policies. However, the article here points out that the pressures that led Sunak to do so weigh on all Western world leaders due to the economic costs of climate policies.
High Costs
A report by “Roya” network reveals that these notions have been widely promoted, not as a deviation from the truth but because they ignore the highly expensive costs of transitioning to a “green economy.”
Academic and populist activist Matt Goodwin believes that the British public supports environmentally friendly policies, but as Britons bear the cost associated with this transition. the percentage drops to 16%. as mentioned in the article. This is not surprising, according to the article.
Explaining this, the article suggests that the “Yellow Vest” protests that rocked France were initially triggered by a carbon tax increase, with one protester commenting, “They talk about the end of the world, and we talk about the end of the month.”
Reactions in Germany
In Germany, things didn’t differ much. The German government’s plan to install new heat pumps instead of traditional gas boilers led to a violent reaction due to the high bills that accumulated as a result. This contributed to an increase in support for the far-right Alternative for Germany party. leading to the shift towards the use of heat pumps, according to a Financial Times article.
The hesitation of European governments to take measures that are not very popular politically poses significant challenges and pressures for the goals of the green transition.
Hesitation of European Governments
With the hesitation of European governments to take measures that are not very politically popular, the goals of the green transition face significant challenges and pressures.
On the other hand, the administration of US President Joe Biden may face similar pressures to those confronting various European capitals. Biden’s economic philosophy revolves around the idea that US government subsidies will help create many high-paying industrial jobs in the emerging green sectors.
Criticism of Biden’s policies
On the other hand, the administration of U.S. President Joe Biden may face similar pressures to those faced by various European capitals. Biden’s economic philosophy is based on the belief that U.S. government subsidies will create many high-paying industrial jobs in the new green sectors.
Criticism of Biden’s policies has already begun among the right-wing populists in the United States, and former President Donald Trump is likely to exploit this during his presidential campaign for the upcoming 2024 elections.
What about the geopolitical aspect?
From a geopolitical perspective, there are also risks associated with the transition towards a green economy and the net-zero trajectory. While it is said that abandoning fossil fuels will make the West less dependent on Russia due to the abandonment of fossil fuels. the problem is that this transition makes the West more reliant on China. the world’s leading producer of solar panels, batteries, and rare earth metals.
