The weather event usually brings hotter and drier conditions to main robusta growing regions; the crop in Brazil, the No. 2 producer of the variety, is expected to drop by 5%
Economic simulations run by the company found that ignoring climate change would cost Latin America 6% of its gross domestic product by 2050 and nearly 20% by 2100
Extreme weather events are already taking a toll on Latin America’s largest economy, costing it $2.6 billion on average each year, according to the bank
As many as 4 billion people around the globe experience water scarcity for at least one month a year, and worsening climate disasters including storms and drought only threaten to make matters worse
