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Standard & Poor’s Says Climate Change Will Affect Countries’ Creditworthiness

Poorer countries that already have lower credit ratings will be hardest hit as climate change weakens national economies, according to Standard & Poor’s Ratings Services. In a climate impact ranking of 116 countries, S&P found that the 20 most vulnerable—beginning with Cambodia, Vietnam, and Bangladesh—are all in emerging markets. “Their vulnerability is in part due to their reliance on agricultural production and employment, which can be vulnerable to shifting climate patterns and extreme weather events, but also due to their weaker capacity to absorb the financial cost,” the report stated. Luxembourg, Switzerland, and Austria head the list of least vulnerable countries. (h/t to Angus Rose for spotting this story)