Earth Equity News

NRDC and Tuft Release Cost of Climate Change Study. Press Release, NRDC, May 22, 2008. "A report [The Cost of Climate Change, PDF, 42 pp] released on Thursday by researchers at Tufts University, commissioned by the Natural Resources Defense Council (NRDC), presents two ways of estimating the costs of inaction on climate change, both leading to staggering bottom lines. A comprehensive estimate, based on state-of-the-art computer modeling, finds that doing nothing on global warming will cost the United States economy more than 3.6 percent of GDP - or $3.8 trillion annually (in today's dollars) - by 2100. On the other hand, a detailed, bottom-up analysis finds that just four categories of global warming impacts -- hurricane damage, real estate losses, increased energy costs and water costs -- will add up to a price tag of 1.8 percent of U.S. GDP, or almost $1.9 trillion annually (in today's dollars) by 2100. 'The longer we wait, the more painful and expensive the consequences will be. This report's findings are undeniable -- we must act now,' said Dan Lashof, director of NRDC's Climate Center. 'The Climate Security Act currently in the U.S. Senate is our best opportunity to set a concrete limit on global warming pollution and provide an accompanying market that rewards companies for making real reductions.' In the future, global warming will cause drastic changes to the planet's climate, with average temperature increases of 13 degrees Fahrenheit in most of the United States and 18 degrees Fahrenheit in Alaska over the next 100 years." [Editors Note: Not all environmentalist would agree that the Climate Security Act 'is our best opportunity' to fight global warming. Friends of the Earth argues, "Legislation to cap global warming pollution may soon come to the Senate floor. While it's good that the Senate wants to address this growing problem, the Lieberman-Warner bill [the Climate Security Act] is not the answer. It would enrich polluters while failing to do what scientists say is necessary to avoid global warming catastrophe. The bill must be dramatically improved or replaced. Friends of the Earth opposes passage of the bill in its current form." CCC agrees with FoE.]