THE GLOBAL ECONOMY IN THE FACE OF CLIMATE CHANGE

Анотація

Introduction. Climate change is one of the biggest challenges for the global economy, calling for a revision of approaches to global business and international cooperation. It causes economic losses, financial instability, additional business risks and social challenges that manifest themselves at different levels of the economic system. The further sustainable development of the global economy in the green growth paradigm requires an immediate response from the international community, strengthening of tactical actions and strategic initiatives. Materials and Methods. The article draws on a broad discourse of research and is based on comprehensive methods, including empirical, statistical approaches and comparative analysis. Particular attention is paid to the assessment of RCP scenarios for estimating economic losses from extreme weather events and strategic assessment of the directions of decarbonisation of the global economy. Results and discussion. The greatest risks of climate change in the global economy are manifested in significant economic losses from extreme weather events, destruction of infrastructure, disruption of production processes and supply chains, reduced labour productivity and yields, threats to food security, financial market instability, price increases and inflation, fiscal pressure, social problems due to migration, as well as destabilisation of the global economy and rising energy costs. Conclusions. The development of the global economy in the face of climate change requires adaptation to new climate conditions, implementation of effective climate policies, reduction of greenhouse gas emissions, investment in sustainable technologies, coordination of international efforts, integration of climate strategies into all levels of economic activity, and active use of digital tools to mitigate the effects of climate change.

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