“Concerns of World Economic Forum cannot be ignored” - Matt Carthy MEP
The Sinn Féin MEP for the Midlands North West and member of the European Parliament's Economic & Monetary Affairs Committee, Matt Carthy has stated:
“The World Economic Forum has provided a very disconcerting and bleak assessment of the future for the global economy which the Irish Government need to be proactive on.
“The report published by the World Economic Forum has stated that a failure to deal with and prepare for climate change is potentially the most costly risk over the next ten years, ahead of weapons of mass destruction, water crises, large-scale migration flows and severe energy price shocks.
“Climate change is one of the defining challenges facing our society. We have seen the consequences of the Irish Government’s lack of action on climate change with the recent devastating flooding across the State.
“The Irish Government are aware that coastal and river flooding are more pronounced in Ireland due to high rainfall and proximity to the Atlantic. However, they continue to bury their head in the sand and put climate change goals on the back burner.
“Only in 2014, the European Commission warned that the economic cost of sea and river flooding would treble unless climate change is tackled but the Irish Government ignored these warnings to the detriment of thousands of citizens across the state who are now attempting to salvage their homes and livelihoods after the recent floods.
“The confluence of worrying economic signals, including the scale of the slowdown in China, the world's second largest economy, high unemployment levels in many countries, the impact of low oil prices on the budgets of oil exporters and the fact that the global stock markets has suffered sharp losses so far in 2016, can no longer be ignored by the Irish Government.
“There is a huge responsibility on the Irish government to act pro-actively and constructively on the challenges which now face us”.