The Importance of Business-Led Adaptation to Climate Disruption in Nordic Supply Chains

The study by UCL researchers highlights the potential economic losses that can occur as a result of climate change. The study examined indirect economic losses from climate change for the first time, projecting a potential net economic loss between USD 3.75 trillion and 24.7 trillion by 2060, when adjusted for 2020 dollars.

Extreme weather events and degraded ecosystems, worsened by climate change, are causing disruptions in global supply chains. These disruptions are leading to risks such as shortages of essential goods like food and medicine, interrupted production, and higher prices. The Nordic region is particularly vulnerable to these impacts, with potential consequences for food security, access to healthcare, and the overall continuity of business operations.

Europe is also at risk due to its heavy dependence on imports and the concentration of critical production in regions susceptible to climate change. The European Union relies heavily on imports for agricultural products and pharmaceutical ingredients, leaving vital sectors vulnerable to the unpredictability of climate-related events.

By Sophia Gonzalez

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