There are legions of experts and scientists focusing on climate change, and discussing their views on the root causes (of polar caps melting at an alarming pace, oceans steadily warming and seas rising, serious droughts increasing, super storms, and more dire results of global warming).
There are also CC and GW “deniers,” especially some folks in industry and the public sector, who for their own various reasons debunk the notion that actions of humankind are behind the warming of the planet. We can expect that somewhere in the broadening debate leading up to the 2016 U.S. presidential campaigning we’ll see climate change as an issue, with pro and con positions articulated by candidates and their supporters.
What about the financial impact related to global warming — who is weighing in on that aspect, and what could influence will the cost of the planet warming be to our human society? America’s third largest bank has focused on these issues and offered up a report for consideration. Citi Group’s “Citi Global Perspective & Solutions” unit examined two scenarios — the cost/benefits of taking “action” or choosing “inaction” — do we move toward a low-carbon economy or not — and what would be the financial consequences of each choice.
Is transitioning to a low-carbon energy mix the pathway to lower the financial impact of global warming on society? The report authors looked in depth at a potential investment in the “action” scenario, as well as the “inaction” approach over the next quarter century. The results may be surprising to you.
Teaser from Citi’s report: Says The Guardian editors of the report, “[This conclusion] soundly refuses the main argument against climate action — that it’s too expensive, with some contrarians even having gone so far as to claim that cutting carbon pollution will create an economic catastrophe…”
You’ll want to read this story — consider it be one more resource now added to the climate change debate. As such, the Citi unit’s report is sure to be chatted up by folks who favor the taking “action” scenario.
Citi report: slowing global warming would save tens of trillions of dollars
(Thursday – September 03, 2015)
Source: The Guardian – Citi Global Perspectives & Solutions (GPS), a division within Citibank (America’s third-largest bank), recently published a report looking at the economic costs and benefits of a low-carbon future. The report considered two…