articleNatureMar 13, 2024HYBRID OA

Global supply chains amplify economic costs of future extreme heat risk

Tsinghua University · University of California, Irvine · +14 more institutions

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Abstract

. Here we develop a disaster footprint analytical framework by integrating climate, epidemiological and hybrid input-output and computable general equilibrium global trade models to estimate the midcentury socioeconomic impacts of heat stress. We consider health costs related to heat exposure, the value of heat-induced labour productivity loss and indirect losses due to economic disruptions cascading through supply chains. Here we show that the global annual incremental gross domestic product loss increases exponentially from 0.03 ± 0.01 (SSP 245)-0.05 ± 0.03 (SSP 585) percentage points during 2030-2040 to 0.05 ± 0.01-0.15 ± 0.04 percentage points during 2050-2060. By 2060, the expected global economic losses…

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Authors

14

Topics & keywords

Keywords
  • Productivity
  • Socioeconomic status
  • Computable general equilibrium
  • Gross domestic product
  • Climate change
  • Natural resource economics
  • Economics
  • Economic cost
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