Who Will Pay For Climate Change Consequences?
A number of initiatives, including the United Nations International Strategy for Disaster Recovery and the University of Notre Dame Global Adaptation Index, have been developing models to assess climate risk at various scales. The Organization for Economic Co-operation and Development has been trying to put numbers on the cost of adaptation. The journal Nature Climate Change recently published a paper entitled “Future Flood Losses in Major Coastal Cities” full of some very sobering numbers. The World Economic Forum Global Agenda Council on Climate Change has developed recommendations on financing mechanisms for adaptation. These are just some of the initiatives underway to price the risks of climate-driven weather variations.
It is likely, however, that the extraordinarily complicated questions of what is at risk, what should be done about it and how much should be spent will be easier to address than the political question, who should pay and what’s their share.
To see how Gary addresses these complex questions, check out his latest Environmental Leader article.
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Director, Corporate Communications