Businesses not prepared for climate change risks: United Nations

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Extreme weather events linked to climate change have damaged infrastructure, depleted crop production and disrupted power networks, among other things, the United Nations Intergovernmental Panel on Climate Change said.

Chris Field, a professor who co-chaired the 309 scientists drafting the report, said "cities, businesses and nations aren't prepared for the climate-related risk we face now," Bloomberg reported.

The researchers said global economic losses from further warming of about 2 degrees Celsius range from 0.2% of income to 2%.

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