Every three weeks, the United States experiences an extreme weather event that produces $1 billion worth of damage, according to the latest US National Climate Assessment report, released earlier this month. Compare that to 40 years ago, when extreme weather episodes that cost an inflation-adjusted $1 billion happened once every four months on average.
Climate disasters are now costing the United States US$150 billion per year, and the economic harm is rising. The real estate market has been disrupted, as home insurance rates skyrocket as wildfire and flood risks rise with the warming climate. Marginalized and already vulnerable communities that are least financially equipped to recover are being hit the hardest.
Why the Fed should treat climate change s $150B economic toll like other national crises it s helped fight – Johansen se johansen.se - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from johansen.se Daily Mail and Mail on Sunday newspapers.
Why The Fed Should Treat Climate Change s $150B Economic Toll Like Other National Crises It s Helped Fight menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Fed Chair Jerome Powell bristles at talk of managing climate change, but the damage it is doing the US economy is hard to ignore, as the latest National Climate Assessment shows.