UK, US and others face credit rating fall over CO2 emissions - study

Sovereign debt downgrades in store for many nations unless they act on climate crisis, researchers say

Sovereign debt downgrades are in prospect for Britain, the US and scores of other countries around the world unless they urgently step up their efforts to reduce greenhouse gas emissions, according to a study.

In the first attempt to adjust credit ratings to take account of the economic consequences of the climate emergency, a team of academics led by Cambridge University said failure to act would leave governments paying billions of dollars more to borrow.