Wealthy nations won't be spared economic climate impacts, new study finds

[applegrove]

Wealthy nations won’t be spared economic climate impacts, new study finds

Climate inaction could slash U.S. GDP up to 10.5% by the end of the century.

E.A. CRUNDEN at Think Progress

https://thinkprogress.org/climate-change-destroy-economy-paris-agreement-2044864013a4/

"SNIP.....


Failing to adequately address climate change could do significant damage to the U.S. economy and to global markets by the end of the century, new research out this week shows.

The study, published in the National Bureau of Economic Research (NBER) on Monday, is not the first to highlight the dramatic economic cost of allowing global warming to go unchecked. But the analysis is among the most comprehensive to focus on the sheer scope of potential impacts, emphasizing that climate change will have severe implications for even very wealthy nations.

Lower-income countries have been seen as the primary victims of rising temperatures, with research repeatedly indicating that tropical islands and regions like South Asia will be among the worst-hit. But the economic data from 174 nations analyzed for the NBER study shows that no country would be spared from grave climate impacts, including the United States.

In a “business as usual” scenario in the report, global emissions would remain high and temperatures would continue to increase at around 0.072 degrees Fahrenheit (0.04 degrees Celsius) per year, a scale based on current warming levels between 1960 and 2014. That scenario would be dire, bringing the world to 7.2 degrees Fahrenheit (4 degrees Celsius) of warming and resulting in GDP per capita worldwide taking a 7.2% blow by 2100. In the United States, that would translate to a deeper 10.5% real income cut. 


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[genxlib]

1. No Kidding

We will lose a lot because we have the most to lose.

We have trillions of dollars worth of real estate in harms way not to mention crucial infrastructure.

Plus, our losses will be compounded because we will spend crazy amounts of money in a losing battle to protect them. It is already happening in some coastal cities where lots of cash is being spent to buy breathing room for a few feet of rise. No answers for what happens when it becomes more than a few feet.