Economical Development Affected by Climatic Changes
Keywords:
economy, climatic, supply, development, temperature, health, sectors, tourismAbstract
The Fourth National Climate Assessment, published in 2018, warned that if we do not curb greenhouse gas emissions and start to adapt, climate change could seriously disrupt the U.S. economy. Warmer temperatures, sea level rise and extreme weather will damage property and critical infrastructure, impact human health and productivity, and negatively affect sectors such as agriculture, forestry, fisheries and tourism. The demand for energy will increase as power generation becomes less reliable, and water supplies will be stressed. Damage to other countries around the globe will also affect U.S. business through disruption in trade and supply chains. A recent report examined how climate change could affect 22 different sectors of the economy under two different scenarios: if global temperatures rose 2.8˚ C from pre-industrial levels by 2100, and if they increased by 4.5˚ C. The study projected that if the higher-temperature scenario prevails, climate change impacts on these 22 sectors could cost the U.S. $520 billion each year. If we can keep to 2.8˚ C, it would cost $224 billion less. In any case, the U.S. stands to suffer large economic losses due to climate change, second only to India, according to another study.
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