What is the effect of global warming on the economy?

Global warming will primarily influence economic growth through damage to property and infrastructure, lost productivity, mass migration and security threats. The balance between winners and losers turns increasingly negative as temperatures rise.

What is the social and economic impact of global warming?

Recent literature illustrates the economic and social challenges facing cities around the world as a result of climate change including energy shortages, damaged infrastructure, increasing losses to industry, heat-related mortality and illness, and scarcity of food and water. These challenges are interrelated.

How does the economy affect the environment?

The environmental impact of economic growth includes the increased consumption of non-renewable resources, higher levels of pollution, global warming and the potential loss of environmental habitats. However, not all forms of economic growth cause damage to the environment.

What are the economic impacts of climate change to Philippines?

Climate Impacts Based on the modeling scenario described above, climate change is projected to reduce long-term economic growth in the Philippines by 0.02 percent per year, which equates to a 3.8-percent reduction in gross domestic product (GDP) in 2050 (Figure 4).

What is global warming causes and effects of global warming?

Global warming, the gradual heating of Earth’s surface, oceans and atmosphere, is caused by human activity, primarily the burning of fossil fuels that pump carbon dioxide (CO2), methane and other greenhouse gases into the atmosphere. Already, global warming is having a measurable effect on the planet.

What are the negative effects of economic globalization?

What Are the Disadvantages of Globalization?

• Unequal economic growth.
• Lack of local businesses.
• Increases potential global recessions.
• Exploits cheaper labor markets.
• Causes job displacement.