Thanks to globalization, intense heat in one part of the world can cause financial losses in another. Annual losses could reach $25 trillion by 2060 if emissions are not curbed, surpassing any previous financial crisis. Without dramatic measures to curb greenhouse gas emissions, even countries at higher latitudes with cooler climates will suffer devastating, albeit indirect, financial losses as extreme heat disrupts global supply chains. The result could be the worst financial crisis the world has ever seen. (By James Woodford, More www.newscientist.com)