What are the odds that extreme weather will lead to a global food shock?
… Water shortages cause significant social disruption as populations vie for limited vital resources. The number of countries able to maintain a sustainable level of output shrinks dramatically, the global economy contracts at an accelerating pace, and political tensions rise as countries look to maintain food security. …A 2023 report by insurance giant Lloyd’s explores the odds of such a scenario, using weather data from the past 40 years and a crop model combined with a water-stress model to measure the economic impact of a sustained period of extreme weather.