Economic Effects Of Global Warming
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Economic Effects Of Global Warming
The economic impacts of climate change vary geographically and are difficult to forecast exactly. Researchers have warned that current economic, may seriously underestimate the effects of climate change, and point to the need for new models that give a more accurate picture of potential damages. Nevertheless, one 2018 study found that potential global economic gains if countries implement mitigation strategies to comply with the 2 °C target set at the Paris Agreement are in the vicinity of US$17 trillion per year up to 2100 compared to a very high emission scenario. Global losses reveal rapidly rising costs due to extreme weather events since the 1970s., in . Socio-economic factors have contributed to the observed trend of global losses, such as population growth and increased wealth. Part of the growth is also related to regional climatic factors, e.g., changes in precipitation and flooding events. It is difficult to quantify the relative impact of socio-economic factors a ...
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20220712 Global Economic Damage Due To Greenhouse Gas Emissions - By Country
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Low-carbon Economy
A low-carbon economy (LCE) or decarbonised economy is an economy based on energy sources that produce low levels of greenhouse gas (GHG) emissions. GHG emissions due to human activity are the dominant cause of observed climate change since the mid-20th century. Continued emission of greenhouse gases will cause long-lasting changes around the world, increasing the likelihood of severe, pervasive, and irreversible effects for people and ecosystems. Shifting to a low-carbon economy on a global scale could bring substantial benefits both for developed and developing countries. Many countries around the world are designing and implementing low-emission development strategies (LEDS). These strategies seek to achieve social, economic, and environmental development goals while reducing long-term greenhouse gas emissions and increasing resilience to the effects of climate change. Globally implemented low-carbon economies are therefore proposed as a precursor to the more advanced, zero-ca ...
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Fishery
Fishery can mean either the enterprise of raising or harvesting fish and other aquatic life; or more commonly, the site where such enterprise takes place ( a.k.a. fishing ground). Commercial fisheries include wild fisheries and fish farms, both in freshwater waterbodies (about 10% of all catch) and the oceans (about 90%). About 500 million people worldwide are economically dependent on fisheries. 171 million tonnes of fish were produced in 2016, but overfishing is an increasing problem — causing declines in some populations. Because of their economic and social importance, fisheries are governed by complex fisheries management practices and legal regimes that vary widely across countries. Historically, fisheries were treated with a " first-come, first-served " approach, but recent threats by human overfishing and environmental issues have required increased regulation of fisheries to prevent conflict and increase profitable economic activity on the fishery. Modern jurisdictio ...
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Forestry
Forestry is the science and craft of creating, managing, planting, using, conserving and repairing forests, woodlands, and associated resources for human and environmental benefits. Forestry is practiced in plantations and natural stands. The science of forestry has elements that belong to the biological, physical, social, political and managerial sciences. Forest management play essential role of creation and modification of habitats and affect ecosystem services provisioning. Modern forestry generally embraces a broad range of concerns, in what is known as multiple-use management, including: the provision of timber, fuel wood, wildlife habitat, natural water quality management, recreation, landscape and community protection, employment, aesthetically appealing landscapes, biodiversity management, watershed management, erosion control, and preserving forests as " sinks" for atmospheric carbon dioxide. Forest ecosystems have come to be seen as the most important componen ...
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Livestock
Livestock are the domesticated animals raised in an agricultural setting to provide labor and produce diversified products for consumption such as meat, eggs, milk, fur, leather, and wool. The term is sometimes used to refer solely to animals who are raised for consumption, and sometimes used to refer solely to farmed ruminants, such as cattle, sheep, goats and pigs. Horses are considered livestock in the United States. The USDA classifies pork, veal, beef, and lamb (mutton) as livestock, and all livestock as red meat. Poultry and fish are not included in the category. The breeding, maintenance, slaughter and general subjugation of livestock, called '' animal husbandry'', is a part of modern agriculture and has been practiced in many cultures since humanity's transition to farming from hunter-gatherer lifestyles. Animal husbandry practices have varied widely across cultures and time periods. It continues to play a major economic and cultural role in numerous communities. Lives ...
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International Trade
International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, scramble for Africa, Atlantic slave trade, salt roads), its economic, social, and political importance has been on the rise in recent centuries. Carrying out trade at an international level is a complex process when compared to domestic trade. When trade takes place between two or more states factors like currency, government policies, economy, judicial system, laws, and markets influence trade. To ease and justify the process of trade between countries of different economic standing in the modern era, some international economic organizations were formed, such as the World Trade Organization ...
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Aggregate Data
Aggregate data is high-level data which is acquired by combining individual-level data. For instance, the output of an industry is an aggregate of the firms’ individual outputs within that industry. Aggregate data are applied in statistics, data warehouses, and in economics. There is a distinction between aggregate data and individual data. Aggregate data refers to individual data that are averaged by geographic area, by year, by service agency, or by other means. Individual data are disaggregated individual results and are used to conduct analyses for estimation of subgroup differences. Aggregate data are mainly used by researchers and analysts, policymakers, banks and administrators for multiple reasons. They are used to evaluate policies, recognise trends and patterns of processes, gain relevant insights, and assess current measures for strategic planning. Aggregate data collected from various sources are used in different areas of studies such as comparative political anal ...
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Carbon Dioxide
Carbon dioxide (chemical formula ) is a chemical compound made up of molecules that each have one carbon atom covalently double bonded to two oxygen atoms. It is found in the gas state at room temperature. In the air, carbon dioxide is transparent to visible light but absorbs infrared radiation, acting as a greenhouse gas. It is a trace gas in Earth's atmosphere at 421 parts per million (ppm), or about 0.04% by volume (as of May 2022), having risen from pre-industrial levels of 280 ppm. Burning fossil fuels is the primary cause of these increased CO2 concentrations and also the primary cause of climate change.IPCC (2022Summary for policy makersiClimate Change 2022: Mitigation of Climate Change. Contribution of Working Group III to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change Cambridge University Press, Cambridge, United Kingdom and New York, NY, USA Carbon dioxide is soluble in water and is found in groundwater, lakes, ice caps, ...
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Climate Change
In common usage, climate change describes global warming—the ongoing increase in global average temperature—and its effects on Earth's climate system. Climate change in a broader sense also includes previous long-term changes to Earth's climate. The current rise in global average temperature is more rapid than previous changes, and is primarily caused by humans burning fossil fuels. Fossil fuel use, deforestation, and some agricultural and industrial practices increase greenhouse gases, notably carbon dioxide and methane. Greenhouse gases absorb some of the heat that the Earth radiates after it warms from sunlight. Larger amounts of these gases trap more heat in Earth's lower atmosphere, causing global warming. Due to climate change, deserts are expanding, while heat waves and wildfires are becoming more common. Increased warming in the Arctic has contributed to melting permafrost, glacial retreat and sea ice loss. Higher temperatures are also causing m ...
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Economic Effects Of Brexit
The economic effects of Brexit were a major area of debate during and after the referendum on UK membership of the European Union. The majority of economists believe that Brexit is likely to harm the UK's economy and reduce its real per capita income in the long term, and the referendum itself damaged the economy. It is likely to produce a large decline in immigration from countries in the European Economic Area (EEA) to the UK, and poses challenges for British higher education and academic research. Immediate impact on the UK economy Immediate impact of the referendum According to one study, the referendum result had pushed up UK inflation by 1.7 percentage points in 2017, leading to an annual cost of £404 for the average British household. Studies published in 2018 estimated that the economic costs of the Brexit vote were 2% of GDP, or 2.5% of GDP. According to a December 2017 '' Financial Times'' analysis, the Brexit referendum results had reduced national British incom ...
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Brexit
Brexit (; a portmanteau of "British exit") was the withdrawal of the United Kingdom (UK) from the European Union (EU) at 23:00 GMT on 31 January 2020 (00:00 1 February 2020 CET).The UK also left the European Atomic Energy Community (EAEC or Euratom). The UK is the only sovereign country to have left the EU or the EC. Greenland left the EC (but became an OTC) on 1 February 1985. The UK had been a member state of the EU or its predecessor the European Communities (EC), sometimes of both at the same time, since 1 January 1973. Following Brexit, EU law and the Court of Justice of the European Union no longer have primacy over British laws, except in select areas in relation to Northern Ireland. The European Union (Withdrawal) Act 2018 retains relevant EU law as domestic law, which the UK can now amend or repeal. Under the terms of the Brexit withdrawal agreement, Northern Ireland continues to participate in the European Single Market in relation to goods, and to be a member o ...
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McKinsey & Company
McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations. McKinsey is the oldest and largest of the " Big Three" management consultancies (MBB), the world's three largest strategy consulting firms by revenue. The firm mainly focuses on the finances and operations of their clients. Under the leadership of Marvin Bower, McKinsey expanded into Europe during the 1940s and 1950s. In the 1960s, McKinsey's Fred Gluck—along with Boston Consulting Group's Bruce Henderson, Bill Bain at Bain & Company, and Harvard Business School's Michael Porter—transformed corporate culture. A 1975 publication by McKinsey's John L. Neuman introduced the business practice of "overhead value analysis" that contributed to a downsizing trend that eliminated many jobs in middle management. McKinsey has a notoriously competitive hiring process, a ...
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