Over 60 countries including India may lose billions for ignoring climate change

A recent study indicated that 63 countries including India could face ratings downgrade by 2030 for ignoring climate change. Failing to curb rising polluting could cost these nations billions of dollars. Here is all you need to know:

Over 60 countries in the world including India may face a ratings downgrade for ignoring climate change. The governments of such countries may lose billions of dollars if they fail to curb rising pollution, according to a recent study highlighted in a Bloomberg report. As part of the study, economists at the University of Cambridge predicted the impact of climate change on sovereign credit ratings using artificial intelligence (AI). According to the group of economists, at least 63 countries will face rating downgrades by 2030 if emissions continue at the current level. The US grade would drop by two notches, while it would be as much as three levels for Germany, India and the Netherlands. Even meeting Paris Agreement commitments will mean an average cut of 0.65, added the study.