Economic models are significantly underestimating the potential financial losses from climate change, and the global economy could face a loss of at least 50 trillion euros of GDP between 2070 and 2090 if nothing is done to curb emissions, a new report has found. In a report with scientists from the University of Exeter, the Institute and Faculty of Actuaries (IFoA) have urged political leaders to take more action to avoid what they call a “planetary default,” a disruption of the Earth’s climate systems so severe that it would destabilize societies. (Moriah Costa, more at greencentralbanking.com)