World Bank warns of the economic and social cost of climate change

The cost of climate change will reach 178 billion dollars by 2070, which is equivalent to twice the current global Gross Domestic Product (GDP), the World Bank estimated.

The entity disclosed here a report on the subject on the occasion of the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change, which opened its doors in this Egyptian city, located in the northwestern Sinai Peninsula.

The scourge will cause irreversible and non-linear impacts on biodiversity and ecosystems, which in turn could lead to significant GDP losses, the text warns.

In this regard, it assures that in some regions it will cause a decrease of up to six percent of GDP by 2050.

More than 216 million people could be pressured to migrate within their own countries in the next three decades and millions more to other nations, which will exacerbate existing vulnerabilities and fragilities, it stresses.

The document recalls that scientific evidence confirms climate change will cause more frequent and intense periods of drought, floods, hurricanes and rains, as well as rising sea levels.

All this will disproportionately affect the poorest, women and minors, he points out.

Climate-related natural disasters further lead to loss of human life, property destruction, reduced agricultural yields and slower economic growth, the report says.