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Actuaries and Scientists Warn Climate Shocks Risk 'Planetary Insolvency' as Power Struggles About How to Rebuild LA Begin

  • Actuaries and scientists warn that the risk of planetary insolvency is increasing due to climate change and economic practices, as stated in the report by the Institute and Faculty of Actuaries and University of Exeter.
  • The report highlights that 2024 was the hottest year on record, with global temperatures exceeding the Paris Agreement's 1.5°C goal, impacting food systems and increasing disaster risks.
  • The lead author Sandy Trust stated that flawed assessments show negligible impacts of climate change on GDP, while the report predicts a 50% contraction between 2070 and 2090 without action.
  • To mitigate risks, policymakers are urged to implement annual assessments, enhance governance, and take actions like decarbonization and ecosystem restoration, according to the report.
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  • 100% of the sources lean Left
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