Tuesday, June 24, 2014

Bipartisan report on climate change highlights economic damage

Some heavy hitters, including three Treasury secretaries (Paulson, Rubin, Schultz) are sounding the alarm but now in economic terms.

More than a million homes and businesses along the nation’s coasts could flood repeatedly before ultimately being destroyed. Entire states in the Southeast and the Corn Belt may lose much of their agriculture as farming shifts northward in a warming world. Heat and humidity will probably grow so intense that spending time outside will become physically dangerous, throwing industries like construction and tourism into turmoil.
That is the picture of what may happen to the United States economy in a world of unchecked global warming, according to a major new report being put forward Tuesday by a coalition of senior political and economic figures from the left, right and center, including three Treasury secretaries stretching back to the Nixon administration.

The real question is whether anyone will listen.  American business types tend to focus on the immediate future of the bottom line.  That's OK for tomorrow, maybe, but what good is that if the nation ends up paying vast sums for flood damage and your business tanks?  Read the full report from NY Times here.

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