Study finds the impact of climate change in Pennsylvania could cost billions by 2040 - CBS News
Study finds the impact of climate change in Pennsylvania could cost billions by 2040 - CBS Pittsburgh
Study finds the impact of climate change in Pennsylvania could cost billions by 2040
PITTSBURGH (KDKA) - A new report is shedding light on how much climate change could cost Pennsylvanians.
The report has found that adaptions made in response to climate change could cost taxpayers more than $15 billion by 2040.
According to researchers, the study's projections are based on conservative cost estimates under a moderate climate scenario.
It includes repairs to roads and bridges from heavy rain storms and changes needed to combat warmer temperatures.
You can learn more about what Pennsylvania is doing to combat climate change locally at this link.
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Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”