Results for: Financial risk

A groundbreaking analysis has revealed that nature degradation could result in a 12% loss to the UK’s gross domestic product (GDP) by 2030. The assessment, led by the Green Finance Institute (GFI), highlights the detrimental impact of ecosystem deterioration on the economy and financial sector. Nature-related risks, including soil health decline, air pollution, biodiversity loss, and water scarcity, could lead to an economic growth slowdown of up to 3% of GDP. Event-driven shocks like floods or pandemics could further increase GDP loss to 12%, comparable to the impact of the financial crisis of 2008 or the Covid-19 pandemic. The report emphasizes the need for swift action from governments, central banks, regulators, and the financial sector to proactively manage nature-related risks and protect the natural environment, which is vital for economic security and long-term prosperity.

Grocery giant Walmart has launched a second Buy Now, Pay Later (BNPL) program in partnership with tech firm One. This new payment option will be available at over 4,600 Walmart locations nationwide for eligible purchases between $100 and $3,000. Like other BNPL programs, One allows customers to take home items by paying only a minimum balance or percentage of the overall purchase amount. However, experts caution that these programs can carry significant financial risks for shoppers. The APR for One’s BNPL feature ranges from 9.99% to 35.99%, and missed payments can lead to debt collection and other penalties.