A portion of a recent Washington Insider posting is worth repeating just to be sure it gets some attention--and that is an item discussing one consulting firm's estimate of the tab for climate change. Here it is--Bryce
New Climate Change Study Quantifies Effect on Global Economy
The latest in a long line of climate change studies could merit extra attention from policy makers due to the horrific economic devastation it forecasts. According to a report by the U.K-based risk analysis firm Maplecroft, nearly one-third of global economic output will be based in countries facing "high" to "extreme" risks from the consequences from climate change by 2025.
The effects from more frequent and extreme climate-related events such as storms, flooding or drought will threaten a projected $44 trillion in economic output from 67 countries, says the report. That figure represents a 50 percent increase in the share of global gross domestic product at high or extreme risk, compared to the current level of $15 trillion, according to the report. (BA note--the $44 trillion figure is just over 2 1/2 times the size of the U.S. $16.7 trillion deficit.)
The report was based on the latest edition of Maplecroft's Climate Change Vulnerability Index, which weighs countries' exposure and sensitivity to extreme climate-related events against their adaptive capacity. This latest climate change report will provide additional ammunition for those who argue for actions that would mitigate higher global temperatures. It is unlikely to sway the cadre of those who believe that climate change is not taking place or, if it is, that there is nothing anyone can do about it. Still, $44 trillion is a big number.
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