Former cabinet secretaries from the Reagan, Clinton, and Bush administrations, together with other prominent Republican and Democratic leaders, have joined forces to express their concern about the impacts of global warming on the U.S. economy.
The Risky Business Project was co-chaired by former Secretary of the Treasury Henry Paulson, former New York City Mayor Michael Bloomburg, and Thomas Steyer, the founder of Farallon Capital Management.
The report finds that rising sea levels will likely cause billions of dollars in damage and destruction to coastal property and infrastructure, over the next five to twenty-five years.
The report also finds that extreme heat will likely harm human health, lower labor productivity, and stress electrical grids. For example, more intense heat waves will likely cause a surge in demand for air conditioning and electricity in some parts of the country.
And the annual losses for crops like corn, soy beans, cotton, and wheat could top fifty percent across the Great Plains, southeast, and midwest.
The Risky Business Project is an example of the growing concern about the impacts of climate change on our economy and way of life.
Reporting credit: ChavoBart Digital Media.
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