Government's failure to reduce carbon emissions will drive up debt servicing costs for 59 countries over the next decade, according to a study examining the economic impact of climate change on existing sovereign credit ratings.
The study, conducted by the University of East Anglia (UEA) and the University of Cambridge and published in the journal Management Science, found that among those countries are China, India, the United States, and Canada, where costs are expected to rise as their credit ratings fall by two notches under a rating system called "climate moderation".
Source (Al-Arabiya.net Website, Edited)
