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New study reveals heatwaves affect developing countries the most, increases global inequality – WION

A report released on Friday (October 28) revealed that intensified heatwaves caused due to climate change has caused the world economy trillions of dollars over the past 30 years, with developing nations bearing the costs. 

The report comes just days before the announcement of the COP27 climate summit in Egypt, where one of the main subjects to address is nations that are vulnerable to climate change.  

Published in the journal Science Advances, the study also stated that unequal economic outcomes have also contributed to inequality around the world. 

Also read | More Indians are losing lives due to heatwaves, casualties up by 55%: Lancet study

In a conversation with AFP, one of the authors, Justin Mankin said, “The cost of extreme heat from climate change so far has been disproportionately borne by the countries and regions least culpable for global warming.” 

The study estimated that between 1992 to 2013, the cost of high heat cost the roughly global economy roughly $16 billion dollars. 

As per the data, poorer countries have lost nearly 6.7 per cent of their yearly GDPs whereas the developed and rich countries have lost nearly 1.5 per cent. 

Also read | UNICEF: More than two billion children will witness frequent and prolonged heat waves by 2050

Experts believe numerous factors contribute to the cost of heat waves including agriculture, health systems, reduction in labour productivity and more. 

Mankin further said that the main idea for the study was to know the variation in extreme heat, second to know how human-caused warming. 

The study focused on five days annually but underestimated the true cost of climate change and heat. 

Mankin further stated that lowering carbon emissions is the most effective way to stop global warming, we need to make significant investments in mitigation and need to adapt to the climate effectively. 

(With inputs from agencies)
 

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