Science and data analytics can illustrate climate-related financial risks. COVID-19 might show us what climate risk will “feel” like.
News out in the last two weeks has illustrated the dramatic impacts of COVID-19 on the overall economy. In the US, GDP contracted by 4.8 percent in the first quarter, and unemployment is at depression-era levels. The European Commission has released forecasts for a "recession of historic proportions", projecting a 7.4 percent contraction in 2020 across the European Union. Major emerging markets have suffered as well. China’s economy shrank by 6.8 percent in Q1, and Brazil’s economy is expected to shrink by at least 3.8 percent this year. Meanwhile, other major emerging market economies are bracing for the uptick in [...]