Climate change is an existential threat to people’s lives and is dramatically reshaping economic activity and trade. This year alone, from the Horn of Africa to China, from Europe to the Americas, we have seen increasing heat and prolonged drought damage crops and reduce electricity production, while low water levels in major rivers have made it difficult to transport industrial and agricultural goods. Severe flooding left a third of Pakistan under water, devastating key export crops and putting the country’s food and economic security at risk.
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