Climate Change Risks Government According to Accountants

After failing to recognize that global climate change has a great level of risk to the nation’s fiscal health, there a number of probable scenarios that may have led the Government Accountability Office to finally notice it.

When the East Coast was hit by storm Sandy that had cost the government $50 billion to clean up, government officials must have thought that this must be what the scientists and economists mean when they talk about future costs of climate change.

Perhaps it was upon viewing the National Oceanographic and Atmospheric Administration’s annual State of the Coast report, which may have hit them that the country’s population living in low-lying coastal areas were 52 percent, and that nine percent more will live there by the end of the decade. To an accountant, that’s a lot of people. Considering that sea levels are rising, and the storms seem to impact those coastal areas, imagine all the digits that are needed to be accounted for “something that threatens the federally maintained transportation networks, federally subsidized electrical grid, and the federally insured homes millions of people rely upon.”

And there are also other natural disasters like drought, wildfire, and flood. Exactly just like what we read in the books.

Posted by Diane Araga, on February 6, 2013 at 9:00 AM