How Does Global Warming Affect The Economy?

global warming

Global warming is real. Scientists, the Old Farmer’s Almanac, and even ExxonMobil know that the world is getting warmer and will continue to heat up as we use more fossil fuels. We could debate the particulars all day, but as we do so, the global temperature will rise, the ice caps will melt, and those adorable penguins will die off in droves.

As global temperatures increased in the last decade-plus, scientists and researchers noticed some strange effects. Pathogens and diseases previously thought to be extinct are once again rearing their ugly heads. Important trade rivers that flowed for millennia are drying up. Even coffee and cocoa plants are having a tough time braving it in the increasingly warmer climate.

So, what does this have to do with the economy? A lot.

Bloomberg recently researched exactly how rising temperatures can have a detrimental effect on the world economy. What they found might make you rethink your impact on the environment — and how to prepare for the worsening changes to come.

If the world keeps warming, humans will be significantly less productive. If humans are less productive, the economy will show for it. We could put a stop to this by slowing carbon emissions and focusing more on renewable energy. Until the world’s governments agree to embrace new forms of energy and ditch fossil fuels, you can look forward to an economy impacted by climate change in the near future.