Economic Impact of Climate Change

by Bill Davis

Following up on our previous post from late June on the accelerating sea rise related to climate change, here's a newly released study detailing the economic impact of climate change.  While this is just a modeling exercise so the end game hasn't yet been determined, the outcomes presented aren't positive as the study suggests that "each one degree Celsius that global temperatures are going up will cost the U.S. economy 1.2% of its GDP."  And according to the model the distribution of this will be uneven as the southern part of the US gets impacted much more substantially than the north.

The study comes from the Climate Impact Lab which is a consortium of economists and policy experts from leading schools and organizations such as the University of California Berkeley, University of Chicago, Rutgers University and Rhodium Group.  Here's the complete study.

Just taking the opportunity to connect climate change to accelerating sea levels to likely having substantial economic impact.  As we are less than 20% of the way through the 21st century, the outcomes don't have to end up being what is suggested, but for that to happen we as a society need to change our behavior.  And while some would disagree with this proposition, erring on the side of caution would seem to make more sense given the consequences.