But over the longer term, the economic fallout caused by climate change is likely to be profound. Researchers have found that extreme temperatures reduce labour productivity, damage crops, raise mortality rates, disrupt global trade and dampen investment. The analysis notes that tax revenues could also shrink when climate changes disrupt economic activity. Economic losses related to climate change are expected to significantly increase in the future, according to estimates from the European Union, although it noted that there is no mechanism in most member states to collect and assess the economic costs. “Temperatures in North America, Asia, and across North Africa and the Mediterranean will be above 40°C for a prolonged number of days this week as the heat wave intensifies”, the World Meteorological Organisation said in a statement.

Source: The North Africa Journal July 19, 2023 14:46 UTC