Friday, November 27, 2020
Home Right Column New Claim: 'Climate Change means less fun' - Swiss bank UBS study:...

New Claim: ‘Climate Change means less fun’ – Swiss bank UBS study: ‘Climate change means more fear, less fun for global middle class’

-

BARCELONA (Thomson Reuters Foundation) – The erosion of wealth among the world’s middle class due to climate change is a threat to economic and social stability which could spur its 1 billion members to push for action on global warming, Swiss bank UBS Group AG said.

In a study of middle-class consumption in 215 cities around the world, UBS analysts found spending priorities were noticeably different in cities most at risk from climate change such as Los Angeles, Tokyo and Shanghai.

In those top-risk cities, the middle class spent between 0.6 and 0.8 percent more on housing compared to the national average, and less on luxuries, entertainment and durable goods.

- Advertisment -

Related Articles

Trump Deputy Interior Pick Gets A Lashing On Climate Change From Sen. Al Franken

By Joseph Erbentraut, Alexander C. Kaufman About an hour and a half into Deputy Interior Secretary nominee David Bernhardt’s Thursday confirmation hearing before the Senate...

Coal To Remain India’s Main Energy Source For At Least 30 Years, Govt Confirms

Coal will remain India’s main energy source for the next three decades although its share will gradually fall as the country pushes renewable power...