Monday, August 5, 2013

The Cost of Climate Change

Who's Gonna Pay For Global Warming?
8/04/2013 - Who do you think? The middle classes of the developed world will pay with their hard-earned taxes. The poor of the world will pay with their blood, sweat and tears. And half the species on this planet will pay with their lives. The 1% won’t even notice, although Bree might wonder why her friend’s island get-away seems a bit smaller.

We can discuss the environmental effects, sea level rise, loss of biodiversity, droughts, and all the physical effects of a warming world, but it’s the economic effects that matter the most to people. And since money is our avatar for reality, that’s probably OK.

According to many studies on the economics of climate change (2006 Stern Review; World Bank; National Bureau of Economic Research), the effects of even a moderate temperature rise of 2°C (~3.6°F) would cost the world several trillion dollars per year, although that rises the longer we wait to react. read more>>>

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