Global Climate Change Effects on World Economy Will Be Greater Than Both World Wars, Great Depression Combined

According to Sir Nicholas Sterns The Economics of Climate Change (2006), if humanity doesnt stabilize and significantly reduce its greenhouse gas (GHG) emissions within the next 10 to 20 years, the economic effects on the worlds economy will be greater than the cost of the 20th centurys world wars and the Great Depression combined.

Those expensive consequences are already apparent. For example, the Alaskan communities of Shishmaref and Kivalina must be relocated within the next decade or so, or rising sea levels and coastal erosion caused by climate change will destroy them. The U.S. Army Corps of Engineers estimates that cost at up to $200 million.

Estimates of 21st century sea-level rise range between one and six feet, depending on how soon and how much we reduce our GHG emissions.

Now, if it may cost $200 million to move two small communities, imagine how much it would cost to relocate residents of New York City or Miami, if we dont make

radical GHG emission reductions.

A June 2008 study released by the National Oceanographic and Atmospheric Administration (NOAA) titled Weather and Climate Extremes in a Changing Climate noted that the erratic and heavy precipitation events we are now seeing can be attributed to human-induced warming. This conclusion seems consistent with the storms that caused the recent 500-year flooding in the Midwest.

According to NOAA, in June 2008, over 1,100 daily precipitation records were set in the Midwest. NOAA also noted that Midwest two- and four-day precipitation totals represented a 1,000-year event. The resulting flood caused nearly $1 billion in losses to Cedar Rapids, Iowa, alone.

The conclusion of many studies over the past few years is that the longer we delay addressing GHG emission reduction, the more damaging and costly fires, floods, droughts and storms will become. We should pay attention to them.