UN Warns of Extreme Heat Risks from El Nino Pattern
The World Meteorological Organization reports that a moderate to strong El Nino event is likely to persist through November, potentially driving global temperatures to new highs. This weather pattern threatens to disrupt agriculture and increase the frequency of droughts, floods, and heatwaves.
Insights:
The World Meteorological Organization forecast a moderate or strong El Niño on Tuesday that could drive global temperatures above average through August. Subsurface tropical Pacific temperatures are currently 6 degrees Celsius above average, creating a reservoir of heat for surface warming. Investors face rising food inflation risks as the weather pattern threatens 60% of global cocoa production in key regions.
