The COVID-19 pandemic triggered the sharpest downturn in the world economy since the Great Depression, with global GDP declining 3.0 percent in 2020. The events industry in Wales will all remember the impact this had on events and event-related businesses.
In April 2019, the Welsh Government declared a climate emergency, highlighting the urgency of the situation and the need for collective action. Wales has a legally binding target to achieve net-zero emissions by 2050, as set out in the Environment Wales Act 2016. The Paris Agreement’s requirement is to reduce global GHG emissions by 50% by 2030.
Impact on GDP of unchecked global warming suggests a massive 50% fall in GDP sometime between 2070 and 2090.
This may seem like a long way off but the more real and immediate effects of this (extreme weather events) will be felt on our industry within the next decade if we do not take more immediate action on climate change.