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Inaction on Climate Change Could Cost the US Economy $14.5T by 2070
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Re: Inaction on Climate Change Could Cost the US Economy $14.5T by 2070
#12How much will action on climate change cost? The implication from the article " ...the United States economy could gain $3 trillion" seems to be 11.5 Trillion?
Re: Inaction on Climate Change Could Cost the US Economy $14.5T by 2070
#13[deleted]
Re: Inaction on Climate Change Could Cost the US Economy $14.5T by 2070
#14$300b/year doesn't sound so bad
Re: Inaction on Climate Change Could Cost the US Economy $14.5T by 2070
#15I’d like to see this same report circa 1970: “Inaction will lead to an ice age costing $X by 2020” meanwhile there’s another thread here about a “Contrarian VC” investing in climate change…
There was never a scientific consensus that there was a coming ice age. There were already more papers being published about global warming than about global cooling throughout the 1970s.
Re: Inaction on Climate Change Could Cost the US Economy $14.5T by 2070
#16That is a lot of jobs!
Re: Inaction on Climate Change Could Cost the US Economy $14.5T by 2070
#17> If global warming reaches around 3°C toward the century’s end, Deloitte’s analysis indicates that economic damages would grow and compound, affecting every industry and region in the country.
I'm betting we overshoot +3c by a fair bit. Given how little progress has been made (emissions are still _accelerating_), I'm at least pleased to see some resource that doesn't merely talk about +1.5c. We've passed that point already. The IPCC's 6th report estimates that if we merely burn the GHGs that are easily accessible via our existing mines, oil rigs, etc, we're headed to +2.5c.
I really hope that Deloitte's report here does some good by giving financial numbers to people who only care about the numbers. (But I doubt it. Very few people with ANY decision-making power will be alive in 2100. "Why worry? I'll be dead.")
Re: Inaction on Climate Change Could Cost the US Economy $14.5T by 2070
#18That’s it? Seems like it might be easier to spend money to mitigate the effects of climate change rather than stop climate change itself. There is probably a sweet spot between carbon reduction and climate change effect mitigation that optimizes the total cost.
Re: Inaction on Climate Change Could Cost the US Economy $14.5T by 2070
#19So if we do nothing it will cost like 1% of GDP? Really?
Re: Inaction on Climate Change Could Cost the US Economy $14.5T by 2070
#20I’d like to see this same report circa 1970: “Inaction will lead to an ice age costing $X by 2020” meanwhile there’s another thread here about a “Contrarian VC” investing in climate change…
Exactly. It's hard to take any prediction more than 5-10 years into the future seriously. Not because the predictors are being insincere or deceptive, just the inherent inability for prediction models to account for unknown unknowns.
Predictions of the actual future are hard, but predictions of the future we will encounter if we stay on the path we're on can be very straightforward and reliable.
If I move a shovel full of dirt to the same place in my backyard every day for 20 years, I'm going to have a big pile of dirt there.
It's the same for climate. If we keep dumping CO2 into the atmosphere, physics says we're going to warm the planet. It's a more complex system than the dirt pile, but no reasonable person thinks some unknown unknown is going to randomly overturn that and cause an ice age (other than possibly nuclear winter).
We can see the warming signal from CO2 in history and we can reasonably project the future as well, if current emissions continue.