Friday, May 23, 2008

Natural Resources Defense Council: A report released today by researchers at Tufts University, commissioned by the Natural Resources Defense Council (NRDC), presents two ways of estimating the costs of inaction on climate change, both leading to staggering bottom lines. A comprehensive estimate, based on state-of-the-art computer modeling, finds that doing nothing on global warming will cost the United States economy more than 3.6 percent of GDP - or $3.8 trillion annually (in today’s dollars) - by 2100. On the other hand, a detailed, bottom-up analysis finds that just four categories of global warming impacts -- hurricane damage, real estate losses, increased energy costs and water costs -- will add up to a price tag of 1.8 percent of U.S. GDP, or almost $1.9 trillion annually (in today’s dollars) by 2100.

“The longer we wait, the more painful and expensive the consequences will be. This report’s findings are undeniable – we must act now,” said Dan Lashof, director of NRDC’s Climate Center. “The Climate Security Act currently in the U.S. Senate is our best opportunity to set a concrete limit on global warming pollution and provide an accompanying market that rewards companies for making real reductions.”

...Costs and damages for the four detailed categories cited in the report if global warming continues:
  • Hurricane damages: $422 billion
  • Real estate losses: $360 billion
  • Increased energy costs: $141 billion
  • Water costs: $950 billion

No comments: