Climate change could cost Latin America nearly a fifth of its gross domestic product (GDP) by the end of the century without new policies to curb its impact, according to a Moody's Analytics report published Monday.
The analysis examined three possible scenarios for the region, accounting for costs of climate change's physical toll - infrastructure damage, poorer health - as well the costs of policy interventions aimed at reducing climate change's impact.
If no new policy action is taken, Moody's foresees a steady deterioration in GDP, losing 10% by 2075 and ending the century down 16% as the region loses production capacity starting this year and losses mount at increasing rates."Latin American countries that would be more affected by climate change are the main fossil fuel producers and consumers: Venezuela, Colombia, Brazil and Mexico," the report said.
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