In the first six months of 2015 natural catastrophes caused 16,200 fatalities and total economic losses of USD 32 billion (2014 values), of which USD 12 billion were insured. The five costliest events were winter storms in the United States, Canada and Europe.
While the consequences of global climate change are far-reaching and significant for everyone, few analyses have focused specifically on the world's middle class, an estimated 1 billion people. We believe this is a population worthy of study, because the fate of the global middle class is fundamental to social stability and economic growth.
To examine the impact of climate change on the middle class, UBS looked at middle-class consumption in 215 cities around the world and compared consumption patterns to the level of climate-change risk in those cities. Read our report and find out how the middle class will be affected and what we can do about it.