The argument against climate action (at least among those who admit that climate change is real) usually boils down to economics; it will cost too much. That’s why this new report is so valuable. Entitled “Risky Business,” it describes in painful detail the economic cost of inaction, and it does so in terms that will be persuasive to leaders in business, finance, and insurance. Addressing climate change is both a moral and an economic imperative, fully justified by any serious evaluation of costs, benefits, and risks.
The report was spearheaded by Henry Paulson, Mike Bloomberg, and Tom Steyer – a Republican, an Independent, and a Democrat – and it’s attracted support from across the political spectrum, including from GOP stalwarts like George Shultz. That’s good news, because de-linking the issue of climate change from partisan politics would make it much easier for the United States to take effective action.