Market News

 October 17, 2006
Climate Change -- The Costs of Inaction

 Source: Tufts University Global Development and Environment Institute

This report, by two Tufts University-based authors, examines the costs of inaction - the worsening damages that will result from allowing climate change to continue unabated. Economic models have estimated damages as great as US$74 trillion, but even these numbers fail to convey the multiple harms that lie in store for the world. In brief, it finds that the first 2° of warming will have many harmful and costly impacts, outweighing the modest potential benefits, for northern countries such as the United Kingdom. Most developing countries will fare even worse, experiencing greater costs and no benefits at all. The first stages of warming already have begun to put essential ecosystems at risk, and will strain the ability of the world's economies and governments to respond.

The full report can be found by clicking here.