By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Research centres define optimal investment portfolio amid high inflation
    Research centres define optimal investment portfolio amid high inflation
    March 26, 2023
    Valuation dispute halts SODIC’s acquisition of Orascom for Real Estate
    Valuation dispute halts SODIC’s acquisition of Orascom for Real Estate
    March 26, 2023
    Abu Dhabi Islamic Bank - Egypt achieves net profit of EGP 2.190bn in 2022
    Abu Dhabi Islamic Bank – Egypt achieves net profit of EGP 2.190bn in 2022
    March 26, 2023
    JICA organizes hybrid event titled ‘Promoting Social and Continuous Learning in Egypt and Japan’
    JICA organizes hybrid event titled ‘Promoting Social and Continuous Learning in Egypt and Japan’
    March 26, 2023
    Financial position of banks in Egyptian market increases to EGP 11.399trn in 2022: CBE 
    Financial position of banks in Egyptian market increases to EGP 11.399trn in 2022: CBE 
    March 26, 2023
  • Politics
    PoliticsShow More
    Health Minister opens 1st production line of ‘Hepatitis B and Pentavalent’ vaccines in Egypt
    Health Minister opens 1st production line of ‘Hepatitis B and Pentavalent’ vaccines in Egypt
    March 26, 2023
    Al-Sisi follows up on Justice Ministry's efforts to accelerate trial procedures at courts
    Al-Sisi follows up on Justice Ministry’s efforts to accelerate trial procedures at courts
    March 26, 2023
    Egypt participates in Earth Hour initiative 
    Egypt participates in Earth Hour initiative 
    March 26, 2023
    Egypt's Health Minister discuss bilateral cooperation with an Italian delegation 
    Egypt’s Health Minister discuss bilateral cooperation with an Italian delegation 
    March 23, 2023
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Global warming and the economy: Consequences and costs
Share
Notification
Latest News
Meet Yehia Abouseif: Artist and designer hailing from Cairo and now based in New York
Meet Yehia Abouseif: Artist & designer hailing from Cairo and now based in New York
Culture
Research centres define optimal investment portfolio amid high inflation
Research centres define optimal investment portfolio amid high inflation
Business
Valuation dispute halts SODIC’s acquisition of Orascom for Real Estate
Valuation dispute halts SODIC’s acquisition of Orascom for Real Estate
Business
Abu Dhabi Islamic Bank - Egypt achieves net profit of EGP 2.190bn in 2022
Abu Dhabi Islamic Bank – Egypt achieves net profit of EGP 2.190bn in 2022
Business
JICA organizes hybrid event titled ‘Promoting Social and Continuous Learning in Egypt and Japan’
JICA organizes hybrid event titled ‘Promoting Social and Continuous Learning in Egypt and Japan’
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Environment > Global warming and the economy: Consequences and costs
Environment

Global warming and the economy: Consequences and costs

Reem Hosam El-din
Last updated: 2018/03/19 at 4:17 PM
By Reem Hosam El-din 5 Min Read
Share
Global warming
SHARE

Global warming, or climate change, is the noticed century-long rise in the average temperature of the Earth’s climate system, alongside the related effects that result from this increase.

“The Earth’s climate has been changing throughout history. In the last 650,000 years, there have been seven cycles of glacial advance and retreat, with the abrupt end of the last ice age about 7,000 years ago marking the beginning of the modern climate era—and of human civilisation. Most of these climate changes are attributed to very small variations in Earth’s orbit that change the amount of solar energy our planet receives,” NASA said.

The average surface temperature of the planet has risen by about 1.1 degrees Celsius since the late 19th century. The change was mainly the result of the increased emissions of carbon dioxide and other human-induced emissions into the atmosphere, with most of the warming occurring in the past 35 years. Interestingly, the warmest year on record was 2016.

 

It goes without saying that such changes will have significant impacts on the globe, as well as on many aspects of the lives of humans on Earth. One important aspect is the economy. The increase in the average temperature of the planet will not come without consequences, of course, and concerns are growing about the serious inevitable environmental and economic consequences if no proper action is taken across the globe in order to reduce the carbon emissions quickly and profoundly.

Some of the consequences include a noticeable negative effect on farming across the world. This will be the aspect most affected, according to Forbes. “Places where we used to grow crops may become too arid or too wet for what currently grows there. The location of where humans grow things will change. Places closer to the poles which have been too cold to have decent growing seasons will become more arable. Places that used to be the right temperature for a crop will become too hot,” Forbes reported.

Additionally, the levels of oceans will rise, which will naturally result in a change in existing shorelines, which has already happened several times since the existence of the Earth. However, in humans’ time, which is a much smaller scale, such changes tend to be rather rare. With the inevitable changes in shorelines, in order to adapt, some humans will, by necessity, either turn to new types of homes or migration. “The oceans have absorbed much of this increased heat, with the top 700 metres (about 2,300 feet) of ocean showing warming of 0.302 degrees Fahrenheit since 1969,” NASA said.

“In terms of economic impacts, this will mean a lot of new home construction. It may also mean deconstruction, as well, depending on how humans feel about letting the oceans destroy things, or about cleaning up after ourselves,” Forbes said. In addition, humans will migrate their existing investments, which will likely increase competition for property in desirable areas.

Additionally, as the world continues to heat up, there will be more demand for air conditioning, which will require greater use of energy, which could drive up the use and cost of fossil fuels. However, the price of fossil fuels has been decreasing lately, as humans have developed more and more resources.

The Union of Concerned Scientists (UCS), a non-profit science advocacy organisation based in the US, said in an article about the costs of global climate changes that there will be severe damage over time to property and infrastructure, in addition to lost productivity as a result of the disruptions to daily life due to lost work and school days, harm to trade, transportation, agriculture, fisheries, energy production, and tourism. Additionally, civil unrest and military intervention might also be the results of this growing change in climate change.

Sofia News Agency (novinite.com), an English-language Bulgarian news provider, recently published an article warning about the consequences of a half-degree increase in the planet’s average temperature. “According to climate scientists at Princeton University, an extra half degree of warming would trigger additional sea level rise, flooding coastal regions and islands currently inhabited by some five million people,” Novinite reported. This will likely result in the displacement of these people from their homes.

 

You Might Also Like

Egypt participates in Earth Hour initiative 

Environment Minister reviews progress regarding carbon certificates

Environment Minister reviews COP27 results during African judicial meeting

Global Environment Facility supports Egypt with $9.13m grant 

Opinion| Goals and fundamental gaps of 2022 UN climate conference COP 27

TAGGED: global warming, the economy
Share this Article
Facebook Twitter Email Print
Previous Article Remembering Samir Farid at the Luxor African Film Festival
Next Article Egypt targets 5.8% growth in FY 2018/2019, 7% in 4 years: Hala Al-Saeed
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Meet Yehia Abouseif: Artist and designer hailing from Cairo and now based in New York
Meet Yehia Abouseif: Artist & designer hailing from Cairo and now based in New York
Culture
Research centres define optimal investment portfolio amid high inflation
Research centres define optimal investment portfolio amid high inflation
Business
Valuation dispute halts SODIC’s acquisition of Orascom for Real Estate
Valuation dispute halts SODIC’s acquisition of Orascom for Real Estate
Business
Abu Dhabi Islamic Bank - Egypt achieves net profit of EGP 2.190bn in 2022
Abu Dhabi Islamic Bank – Egypt achieves net profit of EGP 2.190bn in 2022
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?