Authors: Anthony Wen, Ici Su, Janet Huang, Eric Zhong
Link: Link to Shiny App
Both climate change and the global economy are both global issues when brought out individually. Thus, we chose to approach the relationship between global climate change and the economy in a more macroscopic view, trying to analyze whether there is a correlation between the two. We will use more generic, summarized data from different sources to present a data-driven narrative of the global climate-economy relationship. This strategy allows us to identify and analyze overarching trends and correlations, offering a more comprehensive overview that underscores the profound yet sometimes subtle ways in which global climate influences the global economy.
In conclusion, we cleaned datasets that not only contain data that range over two decades but also contain annual, monthly, and global or country-wise data on global temperature changes, precipitation, GDP per capita, exports and imports percentages, and characteristics. With this data, we created graphs such as a heat maps to show temperature change and co2 emission laid over a world map, linear graph with multiple countries and economic and climate characteristics by year, and graphs showing the correlation between each variable.
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Visualizations portrays a consistent upward trajectory for both temperature and CO2 emission per capita. Countries with different economic levels (devloping, developed, etc) were all still had a high positive correlation and increase between temperature and CO2 emissions per capita
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Climate change and economic development: Our analysis reveals a clear correlation between CO2 emissions and economic development. Carbon dioxide emissions are rising steadily in most countries, closely tied to population growth and economic prosperity. However, there are notable exceptions, suggesting that effective environmental policy and technological innovation can slow emissions growth. The increase in average temperatures further highlights the urgency of addressing climate change to maintain global economic stability.
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Vulnerability of agriculture to climate change: The vulnerability of the agricultural sector to climate change is highlighted by analyzing average temperature trends compared with cereal yields. Fluctuations in temperature directly affect agricultural productivity, and reduced grain yields pose a major challenge to food security. This visualization is a call to action, urging policymakers and stakeholders to prioritize adaptive strategies within the agricultural sector to ensure resilience under changing climate conditions.
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Integrated approach to climate change and economic development: The interrelationship between cereal yields and economic performance highlights the importance of sustainable agricultural practices in promoting economic resilience. Since fluctuations in cereal production directly impact the economic well-being of the country, a comprehensive approach is needed that prioritizes environmental sustainability and economic development. By addressing climate change as a fundamental component of sustainable economic development, stakeholders can work together to build a more environmentally aware and economically resilient future for generations to come.
Overall, our analysis highlights the urgent need to work together to address climate change and promote sustainable development. By leveraging data-driven insights and taking a comprehensive approach, policymakers, stakeholders and individuals can all contribute to building a more environmentally aware and economically resilient global future.