Breaking News! Climate change may threaten the economy...
Sarcasm aside, a report was released this week saying just that. The report entitled Risky Business (which includes former NYC mayor Michael Bloomberg as co-chair) is significant because it is relevant to climate skeptics, deniers and believers. Regardless of whether you believe climate change is happening, that it is anthropogenically caused, or that it is exaggerated, even the slim probability of catastrophic climate events occurring leans in favor of taking action to prevent or mitigate them. This is risk management. Interestingly, a carbon tax was recommended by Henry M. Paulson, Jr. (another co-chair, and former US Secretary of Treasury) in his NYT op-ed piece, yet only the three suggestions of of business adaptation, investor adaptation and public sector response made their way into the report text. It will be interesting to see the response this receives overall.
Check out the report at riskybusiness.org and watch the video below for more info on risk.
You can find NPR's Morning Edition coverage of the report here.
And another thing...
Elizabeth Kolbert (hilarious clip of her on the Daily Show with Jon Stewart linked here), author of The Sixth Extinction, commented on the US energy setting with this insightful historically and economically-center comment piece.
This Forbes article makes an argument for a lower carbon tax.
And not only will climate change hurt business, it is threatening our sweet snacks too! This history of corn and the US agricultural industry is very interesting and helps explain why we find so much of in our diet.