JPMorgan’s Kapnick Warns Climate Losses Could Reach $1 Trillion a Year by 2050

JPMorgan’s Sarah Kapnick said the global economy could face $1 trillion of losses per year by 2050 if it doesn’t adapt to changing climate patterns, according to Bloomberg. Kapnick, JPMorgan’s global head of climate advisory, said she expects a “structural investment trend” that drives more spending on the power grid and the energy transition, particularly geothermal and nuclear energy.