What are the odds that extreme weather will lead to a global food shock? The insurance giant Lloyd’s evaluated the risks in a recent study. ( yaleclimateconnections.org )
The report looked at “major,” “severe,” and “extreme” scenarios. The authors found that the “major” case would cost the world $3 trillion over a five-year period, which they estimated has a 2.3% chance of happening per year. Over a 30-year period, those odds equate to about a 50% probability of occurrence —...
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