Goldman Sachs this month released a report on the effects of climate change on cities around the world, and it makes for grim reading.
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| Goldman Sachs report on climate change makes for grim reading. |
The bank's Global Markets Institute, led by Amanda Hindlian, warned of significant risks to the world's largest cities, which are especially vulnerable to more frequent storms, higher temperatures, rising sea levels, and storm surges.
"Cities generate roughly 80% of global GDP and are home to more than half of the world's population today, a share that the United Nations projects will reach two-thirds by 2050," the report said. About 40% of the population lives within 100 kilometers of a coast, and one in 10 people live in areas less than 10 meters above sea level, it said.
Read the story from the MarketsInsider by Yusaf Kahan - “Goldman Sachs released a 34-page analysis of the effects of climate change. And the results are terrifying.”
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