Analysts saw the risks of rising public debt costs due to climate change

59 countries around the world may face problems in securing their debt in the event of a negative scenario with an increase in carbon emissions, British scientists said . The UN warned that the planet is heading for a 'climate hell'

About 60 countries will face rising debt service costs over the next ten years due to a failure to limit carbon emissions, which will lead to lower credit ratings, according to REUTERS, citing a study by the University of East Anglia and the University of Cambridge . it was published in the journal Management Science. Scientists studied the impact of climate problems on the economy and current sovereign credit ratings.

“Our results support the idea that delaying green investment will increase the cost of borrowing for countries, leading to an increase in the cost of corporate debt,” said researcher Patricia Klusak.

Among the countries whose credit ratings may be downgraded are CHINA , India, the US and CANADA .

The study was based on the application of artificial intelligence models: they combined existing S&P Global ratings with economic climate models and S&P's own disaster risk assessments to create new ratings under various climate scenarios. Rating agencies are now recognizing the risks to economies due to climate change, but are not trying to quantify them.

The downgrade for 59 countries was calculated based on the RCP 8.5 (Representative Concentration Pathways) emissions scenario, which assumes a further increase in emissions and the abandonment of measures to reduce them, this is one of the worst scenarios for the development of the situation. For comparison, Reuters notes that from January 2020 to February 2021, during the covid-19 pandemic , the ratings of 48 countries were downgraded.

Last November, UN Secretary-General António Guterres called the past eight years the warmest on record. He noted that the planet is on a "highway to climate hell." In March, climatologists from the UN called for urgent action to reduce greenhouse gas emissions and adapt the planet to anthropogenic climate change in order to prevent the "climate bomb" from going off.

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