A new report called Risky Business is saying the US economy faces graves threats from global warming. This report was not written by academics or environmental leaders, but by some serious capitalists like Henry Paulson and Michael Bloomberg, ably assisted by folks with extensive policy experience including George Schultz and Olympia Snowe.
They call climate change nature’s “interest-only” loan, which is the type of loan where you pay less now but pay much more later with higher risk and higher interest rates. The report does not get into the solutions to climate change, it just examines the risks in terms of dollars and concludes that $507 billion worth of coastal property will be underwater by 2100 with a chance of another $730 billion inundated at high tide. Forbes review by Mike Scott here