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

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

Quick Summary:

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.