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Cities could lose nearly half their GDP due to energy and environment loss

Cities could lose nearly half their GDP due to energy and environment loss

Welcome to MondaysOvernight Energy and Environment,Your source for the most recent news on energy, the environment, and beyond. Subscribe herethehill.com/newsletter-signup.

Today’s topic is a report on how biodiversity loss can affect GDP. Also, we will be discussing the latest winter weather effects on flights and power.

Rachel Frazin and ZackBudryk were the Hill’s editors. Send us tips:rfrazin@thehill.comAndzbudryk@thehill.com. Follow us on Twitter:@RachelFrazinAnd@BudrykZack.

Lets jump in.

Nearly half the GDP of cities at risk is at risk

Loss of biodiversity and natural resources could lead to a loss of up to $31 trillion in cities’ gross domestic product (GDP).According to Monday’s researchThe World Economic Forum.

According to the report, more than 70% of the 576 largest urban centers in the world, which includes more than 1.4 billion people are at high or extreme risk from environmental hazards such as pollution, water contamination, or heat.

These losses could affect approximately $31 trillion or 44 percent of their GDP. This is still below the global average 50 percent, but it would trickle down into other regions because of the many sectors that are located in cities, such utilities, transportation, and shipping.

What are the specific risks?Flooding was identified by the report as the most serious natural risk in over 1,600 cities. According to the report flooding is a significant contributor to this risk.

The World Bank estimates that 600,000,000 of the most at-risk people live below the poverty line.

According to the report, air pollution and a lack of green space in cities are also major environmental risks and financial drains. The equivalent of 7.5 percent of regional GDP in the Pacific and southern Asia is affected by air pollution.

The report states that urban centers account more than 75 per cent of global carbon emissions. Capital allocated for urban climate financing is far below the necessary amount. The 2021 State ofCities Climate Finance Report showed that $384 Billion in climate finance was directed to urban areas in 2017-2018. This is compared to the $5 Trillion needed.

What’s the solution?The report estimates that these areas could see sustainable development, which could lead to enough capital and jobs to offset the risks.

The report estimates that sustainable transportation infrastructure could create 21.6million jobs by 2030. Another 11.66million jobs could be created through more sustainable waste handling.

You can read more about the report by clicking here.

At US airports, Monday is a miserable day

The recent winter storms that swept across the Eastern U.S. have resulted in thousands of flight cancellations as well as power outages throughout the region.

According to the US Airline Association, more than 5,000 flights flew into, out of, or within the U.S. on Sunday were cancelled and nearly 10,000 were delayed.FlightAware’slive cancellationstatistic. On Monday morning, over 3,000 additional U.S. flight cancellations were reported and another 3,000 were delayed.

According to FlightAware, the “Misery Map” of the “Misery Map,” East Coast airports such as North Carolina’s Charlotte Douglas International Airport, Ronald Reagan Washington National Airport, and John F. Kennedy International Airport were among the most “miserables”Monday.

Charlotte airport issues aWinter weather advisoryMonday morning’s announcement said that most airlines would continue to operate throughout the day, but advised customers to check with their particular carriers and to be careful of black ice when travelling to the airport.

Find out more about the cancellations.

More than 170K without power

After a severe winter storm that ravaged the region, more than 170,000 people were without power in the eastern United States on Monday morning.

According to, New York, Massachusetts, Pennsylvania and Kentucky were the top three reporting areas for outages at 10:15 Eastern time.PowerOutage.us.

See Also

South Carolina had the highest number of outages, at almost 30,000According to Marc Chenard (Meteorologist), North Carolina’s mountains saw the most snow.The Associated Press.

According to the Associated Press, Florida was hit with a tornado by the winter storm. Winds reached 118 miles an hour.

According to the National Weather Service (NWS), the winter storm will move into southeastern Canada on Tuesday. Light snow will continue to fall in the Central Appalachians.

Monday’s outages come afterMore than 750,000 people lost their powerThis was earlier in the month, when a winter storm ravaged the South and mid Atlantic.

Learn more about the outages.

WHAT WERE YOU READING?

Congress is blocking Biden’s climate agenda. One key component in Hawaii is moving ahead (NPR)

European sales of electric cars surpass diesel models for thefirst time (Financial Times)

Texas Earthquakes Prompt New Fracking Rules (The Wall Street Journal)

Finally, something a little off-beat and unusual:A-dressing is a major concern

That’s all for today. Thank you for reading. Check out The HillsEnergy & Environment PageFor the most recent news and coverage. Check out the video below.YouTomorrow.

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