Unchanged climate policies may cost India 19% GDP

India could face a 19% drop in GDP by 2050 if global climate policies remain unchanged, according to Sabine Mauderer, chair of the Network for Greening the Financial System. The world could see a 15% GDP loss under similar conditions. Mauderer highlighted that India stands to benefit from a global shift to net zero emissions. However, insufficient climate action could lead to increased economic and financial risks, emphasizing the need for ongoing analysis by central banks. The NGFS has grown from eight to 144 members since its founding in 2017, despite the recent exit of the US Federal Reserve. The organization continues to focus on climate-related risks and the economic impacts of climate change.