ABSTRACT

Climate Change: Potential Economic Costs and Opportunities to Reduce Federal Fiscal Exposure, Statement of J. Alfredo Gómez, Director, Natural Resources and Environment, Testimony Before the Subcommittee on Environment, Committee on Oversight and Reform, House of Representatives   [open pdf - 2MB]

From the GAO [Government Accountability Office] Highlights: "Since 2005, federal funding for disaster assistance is at least $450 billion, including approximately $19.1 billion in supplemental appropriations signed into law on June 6, 2019. In 2018 alone, there were 14 separate billion-dollar weather and climate disaster events across the United States, with a total cost of at least $91 billion, according to the National Oceanic and Atmospheric Administration. The U.S. Global Change Research Program projects that disaster costs will likely increase as certain extreme weather events become more frequent and intense due to climate change. The costs of recent weather disasters have illustrated the need for planning for climate change risks and investing in resilience. Resilience is the ability to prepare and plan for, absorb, recover from, and more successfully adapt to adverse events, according to the National Academies of Science, Engineering, and Medicine. Investing in resilience can reduce the need for far more costly steps in the decades to come."

Report Number:
GAO-20-338T
Publisher:
Date:
2019-12-19
Copyright:
Public Domain
Retrieved From:
Government Accountability Office: https://www.gao.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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