Open AccessFinance Leaders Link Climate Change to Economic Development
Author(s) -
Showstack Randy
Publication year - 2013
Publication title -
eos, transactions american geophysical union
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.316
H-Index - 86
eISSN - 2324-9250
pISSN - 0096-3941
DOI - 10.1002/2013eo430003
Subject(s) - climate change , natural disaster , climate finance , event (particle physics) , political science , finance , business , geography , meteorology , ecology , biology , physics , quantum mechanics
“If we don't tackle climate change, with the kinds of disasters that are lurking in our future, a single event could reverse years of development success in individual countries,” World Bank Group president Jim Yong Kim said at a 9 October forum at the start of the bank's 2013 annual meeting in Washington, D. C. The current annual cost of responding to natural disasters is about U.S. $6 billion, and that projection suggests that the cost could increase to up to $1 trillion a year by the year 2050, Kim said.