Climate change erased a fifth of vulnerable nations' wealth: Report

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PARIS - Climate-vulnerable countries said disasters and weather patterns driven by global warming have wiped out around a fifth of their economic growth, in a report published on Wednesday amidThe r

esearch, released by a consortium of 55 developing nations across Africa, Asia, the Americas and the Pacific, comes as UN climate negotiators meeting in Germany wrangle over"loss and damage" - the costs of climate change impacts that are already unfolding.

The research, carried out on behalf of finance ministers, compared observed losses to modelling that estimates how the economies might have grown without the impacts of climate change. "Losses and damage go well beyond what can be quantified in dollars and cents in the form of lost and destroyed lives, livelihoods, land, even threats to our culture."

A landmark report by UN climate science experts this year on the impacts of global warming said weather extremes had caused direct economic damage, which can sometimes weigh on growth for a decade or more.

 

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