‘The real threat’ to the economy from climate change

The U.S. mining industry is already in the midst of a massive shift in business practices that could mean less money for local communities and more jobs.

The shift could be as big as a 10 percent reduction in global output from mining companies, according to the Mining Business Alliance, a trade group representing industry leaders.

The group also says that global climate change threatens the mining sector’s competitiveness and that companies have been slow to adjust to a changing climate.

“For decades, U.K. mining companies have used climate-change denial to protect their position and profits,” said Adam Smith, chairman of the MBIA, in a statement.

“The mining industry’s leadership has been slow in responding to climate change and that is why it is now more likely that mining will experience a significant reduction in output from its operations in 2030 compared to 2030 if global warming continues unabated.” 

The report, titled “The Real Threat: Mining, Oil, and Coal,” is a compilation of data and analysis compiled by the MBA to provide a more accurate picture of how global climate impact and business decisions are impacting mining, according with the group.

The study found that mining companies will face a significant decrease in output if global temperatures rise by 2 degrees Celsius.

The global mining industry accounts for about 13 percent of the global economy, and the U.N. Intergovernmental Panel on Climate Change has estimated that the industry will lose up to 60 percent of its output if the world continues to emit greenhouse gases at current levels. 

According to the report, a 10-percent reduction in production could result in an additional 10,000 to 15,000 jobs and as much as $1.6 trillion in economic activity in 2030.

The MBIF says that the potential for economic losses and job losses from the global mining downturn could be so significant that the U:ll need to re-evaluate its global mining policies and practices.

“Mining is a key sector of the economy, one that generates more than $10 trillion a year and provides nearly half of the jobs in the United States, according the MAA,” Smith said.

“If mining is not protected from the impacts of climate change, then the economic and social impacts could be far greater than previously thought.” 

A recent report from the U and UK governments found that a global 1.5-degree rise in temperature would cause the loss of 1.4 million jobs, and an increase in sea level by 20 centimeters.

The authors of the report said that the “global economy would likely be less robust and resilient than it is today if we continue to emit emissions at current rates.” 

 The report also found that if the U S. mines and exports more coal, as it has done for decades, it could create as many as 300,000 direct jobs.

The mining sector is the second largest economy in the world, but according to The MBA, it has not been doing enough to mitigate the impacts from climate warming. 

According to the group, there are currently 6 million miners in the U, the majority of whom are located in the Appalachian Mountains and the Gulf Coast states of Kentucky and Tennessee. 

“Mining’s economic footprint has grown significantly over the last 30 years and the industry is now an integral part of the American economy,” Smith added.

“In the years ahead, our industry will continue to be a key driver of economic growth in the Midwest, with its proximity to a broad swath of the country’s manufacturing base.

The mining industry, and by extension the American workforce, is poised to remain strong and competitive for decades to come.” 

This story has been updated.


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