The Office of Management and Budget (OMB) has formally accounted in the proposed Fiscal Year 2023 Federal budget for risks posed by climate change, and warned of potentially devastating impacts on U.S. gross domestic product along with flood risks to thousands of Federal facilities by the end of this century.
The federal government has begun tallying the damage climate change could do to the economy and its budget. This comes as scientists warn time is running out to avoid catastrophic global warming.
The White House Office of Management and Budget (OMB) has released its first report describing the financial impact of climate inaction in the U.S. The analysis outlines the taxpayer cost should climate change remain unchecked, and it amounts to over $2 trillion per year by 2100.
The federal government has begun tallying the damage climate change could do to the economy and its budget. This comes as scientists warn time is running out to avoid catastrophic global warming.