Risky Business: The Economic Risks of Climate Change in the United States

The United States is economically at risk by the climate change happening today. A report done by The Risky Business Project shows that the human-induced climate threats-“rising Climate Changeseas, increased damage from storm surge, more frequent bouts of extreme heat”- are starting to hurt our American economy and will continue to do so well into the year 2100. The Risky Business Project was launched in October 2013 to be one of the first projects to evaluate and research the economic risks of the changing climate within our nation.

The report states that “these [climate change] impacts will likely grow materially over the next 5 to 25 years”, specifically in the areas of agriculture, energy, coastal property and infrastructure.

The Risky Business Project found that, “if we continue along our current path, with no significant efforts to curb climate change, the U.S. will likely see significantly more days above 95°F each year. By the middle of this century, the average American will likely see 26 to 50 days over 95°F each year—from double to more than triple the average number of 95°F days we’ve seen over the past 30 to 40 years.”

The report also shows culturally and economically how eight different regions of the United States are being affected and how each area will continue to be at risk if we do not make an effort to help the climate change situation. The eight regions explored are: Northeast, Southeast, Midwest, Great Plains, Northwest, Southwest, Alaska and Hawaii. Each of these areas depends on each other as a nation both in a business and cultural way.

The Risky Business Project ends the report by stressing some suggested “next steps” to provide assistance in decreasing the risks that the American economy is challenged with from climate change. The message that this organization provides is that “this is not a problem for another day. The investments we make today-this week, this month, this year- will determine our economic future.”  

Article formerly posted at https://www.hsdl.org/blog/newpost/view/risky-business-the-economic-risks-of-climate-change-in-the-united-states