Climate change already hurting economy

Climate change is having a present-day, negative impact on Americans' everyday lives and damaging the economy, according to an assessment by 300 experts overseen by 60 scientists.

Dow Jones Newswires

Climate change is having a present-day, negative impact on Americans' everyday lives and damaging the US economy as extreme weather brings flooding, droughts and other disasters to every region in the country, a federal advisory committee has concluded.

The congressionally mandated National Climate Assessment, produced by more than 300 experts overseen by a panel of 60 scientists, concludes that the nation has already suffered billions of dollars in damages from severe weather-related disruptions, which it says will continue to get worse.

The document, considered the most comprehensive analysis of the effects of climate change on the US, is to be released by the climate advisory panel after a final vote Tuesday morning. President Barack Obama is planning to promote it in a series of events this week calling for action to combat the trend, and using the report to bring public attention to climate change-related problems.

"The findings in this National Climate Assessment underscore the need for urgent action to combat the threats from climate change, protect American citizens and communities today, and build a sustainable future for our kids and grandkids," the White House said.

The report, by the Federal National Climate Assessment and Development Advisory Committee, details the effects of climate change on every state in the country and every sector of the economy, from rapidly receding ice in Alaska to heat waves and coastal flooding in the Northeast. Rising seas in the South put major cities such as Miami at risk, it says.

The report says it isn't too late to implement policies to reduce the carbon emissions that cause greenhouse gases, and calls on governments at all levels to find ways to lower emissions, particularly from energy production. The report also emphasises adaptation -- the notion that society needs to find ways to prepare for and adjust to some of the changes.

The report pins much of the increase in climate change on human behaviour and resource usage patterns designed to highlight problems even at the community level. Superstorm Sandy which destroyed much of northern New Jersey's beaches in 2012, and the heat wave in the Midwest are among examples the administration will use this week to try to raise concerns among average Americans about climate change.

"Every American will find things that matter to them in this report," said one of the lead authors, Donald Wuebbles, a professor of atmospheric science at the University of Illinois.

The last climate assessment, released in 2009, said generally that climate change is affecting the country. The new report, Mr Wuebbles said, shows how further shifts in each area could hurt sectors of the economy such as transportation or force local populations to move.

The White House campaign to publicise the report will include eight television meteorologists. Americans feel "comfortable" with local weather reporters, who can discuss climate change warnings without being politicised, said an administration official.

{{content.question}}

Free Insights Membership Premium 15 Day Free Trial
Create a free account, and get access to Insights, Research Tools & Portfolio Manager. Create a Premium account, and enjoy 15 day free trial, with unlimited access to all our research & services.

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter your SMS code' }}

A text message with your verification code was just sent to {{user.DayPhone}}

We cannot send you a code via SMS to {{user.DayPhone}}

Hi {{ user.FirstName }}, please provide your mobile number.

{{ content.trialHeading.replace('{0}', user.FirstName) }}

We'll send you a text message with a verification code to start your free trial.

Log in

{{ content.upgradeHeading.replace('{0}', user.FirstName) }}

The email address you entered is registered with InvestSMART.

Login or to reset your password, select Forgotten password

Thank you

We have sent you an email with the details of your registration.

Email is required.
Email must be a valid email.
Password is required.
First name is required.
Last name is required.
Mobile phone number is required.
Mobile phone number is invalid.
You must accept the terms and conditions.

Already a an InvestSMART member? Log in

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

OR

Looks you are already a member. Please enter your password to proceed

You have entered an incorrect email or password

Email is required.
Email must be a valid email.
Password is required.
Please untick this box when using a public or shared device

Not a member? Sign up

Forgotten password? Click here

{{ upgradeCTAText }}

Updating information

Please wait ...

Your membership to InvestSMART Group recently failed to renew.


Please make sure your payment details are up to date to continue your membership.


Having trouble renewing?

Please contact Member Services on support@investsmart.com.au or 1300 880 160

You've recently updated your payment details.

It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.


If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.


Still having trouble viewing content?

Please contact Member Services on support@investsmart.com.au or 1300 880 160

Please click on the ACTIVATE button to finalise your membership

You have entered an incorrect email or password

Email is required.
Email must be a valid email.
Password is required.
Please untick this box when using a public or shared device

Not a member? Sign up

Forgotten password? Click here

Upgrade Today
No lock-in contract. Cancel anytime.
Billing type
Monthly Yearly
Billing information
You will now be charged AUD {{ priceInDollar }} as a recurring {{ intervalText }} payment (includes GST). Cancel anytime.
Membership Price ({{intervalText}})
{{priceInDollar}}
Discount
-{{productDiscount}}
GST
{{productGST}}
Remaining credits from your existing subscription will be used towards your new subscription. You will now be charged {{ productPrice }}.
TOTAL   (inc. GST)
{{productPrice}}
Card Details Edit
visa
visa

Unsuccessful registration

Registration for this event is available only to members. View our payment options for more information.

{{eventFunction.Name}}
{{eventFunction.EventTypeName}}
{{eventFunction.StartDate}}
{{eventFunction.EventTimings}}
{{eventFunction.VenueName}}
{{ t.Cost === 0 ? "FREE" : "$" + t.Cost.toFixed(2) }}

Forgotten password

Please enter your email address below to request a new password

Email is required.
Email must be a valid email.

Not a member? Sign up

Already a an InvestSMART member? Log in

Alicia Mundy & Colleen McCain Nelson
More articles from Alicia Mundy & Colleen McCain Nelson
Related Articles