Goldman Sachs released a 34-page analysis of the effects of climate change. And the results are terrifying

Goldman Sachs this month released a report on the effects of climate change on cities around the world, and it makes for grim reading.

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.”

Global bank urges cities to invest in new infrastructure to adapt to climate change

The impacts of climate change on weather, sea levels, food and water supplies should be seen as an investment opportunity for our cities, says global investment banking firm Goldman Sachs.

Our cities need to adapt to cope with more extreme
 weather events and other impacts from climate change.

In a report out last month the bank says cities need to adapt to become more resilient to climate change and this could “drive one of the largest infrastructure build-outs in history”.

The bank says cities will be on the frontline of any need to adapt because they are home to more than half the world’s population and generate roughly 80% of global GDP.

Read the story from The Conversation by a Senior Lecturer from the Faculty of Built Environment at the UNSW, Elisa Palazzo -  “Global bank urges cities to invest in new infrastructure to adapt to climate change.”