Global warming has a negative impact on the world economy. This conclusion was reached by a group of American scientists from George Mason University and the University of Florida, with the participation of colleagues from the University of Hong Kong in China. The study was published on: Portal scientific publications SSRN.
The team compared quarterly sales figures for a large sample of U.S. companies with temperature data at their locations from 1990 to 2020. The sample included 66,795 commercial enterprises.
The analysis showed that during periods of hot weather, company sales fell by 4.3-5.6% in large organizations and by 8.8-15.9% in medium and small businesses.
The researchers suggest that firms can mitigate the effects of higher temperatures by adjusting their business practices. The time and resources spent on these adaptations may be part of the hidden economic costs of climate.
Scientists say the temperature effect has been a surprise to the global economy and has even surprised professional investors.
Previous researchers discovered A new factor for tracking climate change.
What are you thinking?
Source: Gazeta
Barbara Dickson is a seasoned writer for “Social Bites”. She keeps readers informed on the latest news and trends, providing in-depth coverage and analysis on a variety of topics.