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COP29: UN climate chief calls for urgent action to counter economic fallout

Business Standard LogoBusiness Standard1d ago

COP29: UN climate chief calls for urgent action to counter economic fallout - Business Standard

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Issuing a stark warning on the massive economic toll of climate change, UN Climate Change chief Simon Stiell on Tuesday said its worsening impacts will put inflation on steroids and urged nations to take more decisive action.

Stiell, the executive secretary of the United Nations Convention on Climate Change (UNFCCC), also criticised the tendency to sideline climate action in national policies, calling it a recipe for disaster.

Addressing the World Leaders Climate Action Summit at the annual UN Climate Change conference -- COP29 here, he characterised the climate crisis as an economy-killer with impacts already draining up to 5 per cent of GDP in various countries.


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Category: BusinessFinance

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 19:57:39 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 442 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23555172

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Official Website: business-standard.com

Update Frequency: 343 posts per day

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News Last Updated: 5 hours ago

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