How Climate Change... LIN

How climate change could hamper global productivity

An article in the scientific journal Nature observes that there is a “Goldilocks” global average temperature of 13 degrees Celsius in which economic productivity is most efficient, but finds that productivity will decline by 23% by 2100 because of increases in the global average temperature.

While some countries like Canada,Russia, and parts of Europe are likely to benefit economically from changing climate patterns, others such as the United States and China are expected to see moderate declines in productivity.

The Middle East, Africa, and Asia will suffer the most, with Middle Eastern countries seeing temperatures reach “uninhabitable” levels during summer months. Implications for developing countries are even worse because of lacking capacity to find technological solutions.

There is hope for a positive outcome. With global investment in green technology increasing by 17% between 2013 and 2014, there are indications of a growing global market place for sustainable technologies. But some are better market leaders than others. For example, Canada held a Global Green Economy Index ranking of 28th out of 60 countries in 2014, demonstrating the potential for greater advancement

As world leaders assemble in Paris for talks under the United Nations Framework on Climate Change (UNFCC), the economic, ecological and social stakes have never been higher; however, the convergence of world leaders, the latest scientific findings, and growing green markets may represent a catalyst for further innovation and opportunity.