Effects are manifest over a range of processes: droughts, heat, river transport and food production
A high level of household indebtedness is reflective of a larger challenge. In the US, households owe a record-breaking $16-trillion in debt. In SA, debt to disposable income now sits at about 75%. And there’s a worrying culprit that’s here to stay: the climate.
While there are the obvious causes, such as paying off expensive cars and homes, climate change is a more worrying beast. Once deemed an ideological battle, climate change is now proving it has the force to crumble the financial stability of households, businesses and governments...
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