Trillion-dollar cost of climate changes globally in 2023

The Information and Decision-Making Centre of the Council of Ministers has published a vital report on the effects of climate change. It confirmed that in light of the continuing impacts of climate change around the world, the cost is expected to reach one trillion dollars next year so that the world will witness another year of climate changes that destroy homes, crops, disrupts the movement of the freight and threatens the lives of the citizens.

The report was based on data from the Aon Data and Research Company. It indicated that the world would suffer due to lower temperatures in some parts of the Pacific Ocean and higher in other parts of it, as well as changes in the circulation of the tropical atmosphere, such as winds, pressure and rainfall.

For his part, Michael Pinto, president and founder of Pento Portfolio Strategies of consultancy, said that these phenomena essentially exacerbate existing problems; it increases energy and food prices and increases inflation rates, which negatively affects the global economy.

The rise in greenhouse gases in the atmosphere increases the likelihood of many atmospheric climate changes and temperature instability in the Pacific Ocean until January 2023 by 80%, said Richard Seger, a research professor at Columbia University.

According to data and research company, Aon, climate change cost the world $268 billion in 2020 and $329 billion in 2021.

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Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

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AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

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