In the worst-case scenario, if G20 governments fail to take urgent action to reduce climate-changing emissions, GDP losses caused by climate change in G20 countries could reach 4% per year by 2050, and exceed 8% by 2100. That is, climate-related GDP losses could double the losses caused by the Covid-19 pandemic. Some of these countries face even worse losses, such as Canada, which could see its GDP reduced by at least 4% by 2050 and by more than 13% — €133 billion — by 2100.
Conversely, by limiting the increase in global temperature to within 2°C compared to the pre-industrial period, the loss could fall to 0.1% of total GDP by 2050 and to 1.3% by 2100.
The data emerges from the first atlas of G20 countries that provides climate scenarios, information, data and expected changes in climate and related impact. This tool, which uses science to shed light on the risks of the world's largest economies, is designed to support decision-making towards effective and scientifically-informed climate action.
The CMCC Foundation has published the G20 Climate Risk Atlas — 20 Country Fact Sheets with maps and infographics that offer a complete picture of the most up-to-date scientific knowledge on climate, associated risks and impacts on economies, the environment and societies. The report was produced with the support of the European Climate Foundation and with the scientific contribution of Enel Foundation.
The atlas summarises the scientific knowledge of the impacts that climate change is forecasted to make in the coming decades in the most industrialised countries of the world. The information comes from modelling, data analysis, and the use of indicators and surveys of the latest scientific literature, including peer-reviewed articles, technical reports and open-access material from European Horizon 2020 projects.
The report includes the results of the research conducted at Ca’ Foscari and at the Cmcc@ Ca’Foscari centre. The authors of the report are Ca’ Foscari professors Francesco Bosello and Enrica De Cian, PhD students in Science and Management of Climate Change Francesco Pietro Colelli and Remi Harris, and the researchers of Cmcc@Ca’Foscari Margaretha Breil, Shouro Dasgupta, Katie Johnson, Jaroslav Mysiak, and Silvia Torresan.