Climate change can Hurt economic output globalized economy too

Oct 1, 2016 | | Say something

Globalization has become much more vulnerable to the impacts of extreme weather, such as heat stress on workers, suggests a new study.


 Climate Change Can Hurt Globalized Economy Too Climate change could hurt global economy, also

The analysis by the Potsdam Institute for Climate Change Research and Columbia University found that the susceptibility of the global economic network to heat stress of workers has doubled in the last decade.

‘climate damage not only depend on the warming of our planet, but also the resilience of our societies and economies. “

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He first showed how improved global supply network connectivity can amplify production losses, as these losses can more easily spread between countries. “Climatic damage not only depend on the warming of our planet, but also the resilience of our societies and economies,” says lead author Leonie Wenz, adding “Our study shows that since the beginning of the 21st century the structure of our economy system has changed so that production losses in one place can more easily cause further losses elsewhere. ”

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The study examines the example of reducing heat-related productivity with the local stress that cause global effects. Worldwide, production is interrelated. “What is self-evident for us today is really a phenomenon of the last two decades,” said Wenz. Typhoon Haiyan in the Philippines destroyed more than half of world production of coconut oil, which is one of the two most vegetable fats used in food production worldwide. The 2011 flood in Queensland stopped production at the site of the fourth largest coal exploration on Earth for weeks, with economic repercussions far beyond Australia.

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While individual major shocks to economic networks as these illustrate how economic activity is linked worldwide, the researchers focused on the effects of small daily perturbations due to the extreme temperatures leading to heat stress among construction workers , agriculture and other economic sectors. Previous research shows that increasing temperatures reduce productivity, as for example, workers are depleted faster.

The study covers 26 economic flows between industry sectors of mining and quarrying of textiles and garments and post and telecommunications, as well as final demand in 186 countries. The combination of temperature data, the population and the global economic network from 1991-2011 and based on research on the effects of temperature on existing workers, scientists performed computer simulations of the consequences of heat stress in order to obtain more information about network vulnerability to the spread of production losses in each year.

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“With runaway climate change, increasing global average temperature will have serious impacts on natural and social systems,” says co-author Anders Levermann. “To estimate the costs of future climate change we need to assess the overall economic impacts of extreme more frequent and weather impacts heat, such as floods and tropical storms, and understand its relationship to the structure of the economic network.

This is the basis for the implementation of appropriate adaptation measures -. In a warming world with more intense weather extremes, it is likely that society must be stronger and more flexible “The study is published in the journal Advances Science.

Source: ANI

This article was originally published on medindia.net

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