Debt in warm climate: Coronavirus and carbon set scene for default

Debt in warm climate: Coronavirus and carbon set scene for default - Hello loyal readers FeedGoogle, In the article you are reading this time with the title Debt in warm climate: Coronavirus and carbon set scene for default, We have prepared this article well for you to read and take information in it. hopefully the contents of the post Article Malaysians, what we write you can understand. Alright, happy reading.

Where Covid-19 has precipitated unprecedented debts, climate change could trigger defaults across a planet which a United Nations panel says is dangerously close to runaway warming.To avert disaster, countries are committing to carbon-cutting steps. But these will be costly and likely to add to a global debt pile that asset manager Janus Henderson estimates ballooned to US$62.5 trillion by the end of last year.With floods and wildfires devastating the world, estimates vary on how much damage warming will inflict on its economy.But a report earlier this year by BofA put it at US$54-US$69 trillion by 2100, which compares to a valuation of the entire global economy of around US$80 trillion.The financial repercussions could manifest themselves in under a decade, a study by index provider FTSE Russell warns.The first climate-linked credit rating downgrades are set to hit countries …