Climate change ‘to cost more than £300 billion’
The world will have to spend £300 billion, three times as much as previously thought, adapting to the effects of climate change, scientists have said.
The UN originally said it would cost just £25 to £105 billion ($40-170 billion), or the cost of about three Olympic Games per year, from 2030 to pay for the sea defences, increase in deaths and damage to infrastructure caused by global warming.
However a new study by leading scientific body the International Institute for Environment and Development and the Grantham Institute for Climate Change at Imperial College London estimated it will cost more than triple that amount per annum.
The report found that the previous estimates by the UN Framework Convention on Climate Change failed to take into account various factors including the increase in storms in previous years due to global warming, a number of diseases caused by warmer weather and “ecological services” such as rainfall and cloud cover provided by the rainforest.
Professor Martin Parry, a former co-chair of the Intergovernmental Panel on Climate Change, said the earlier estimate missed out key sectors such as energy, manufacturing, retailing, mining and tourism. He said the cost will be even more when the full range of impacts of a warming climate are considered such as human migrations and refugees.
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hynd Says:
Only if you believe in untested science.
Posted on August 27th, 2009 at 6:09 pm
mike Says:
That’s easy, an extra shift at the mint could rustle up $300 billion in no time. The money would have about as much value as the theory they a foisting on us. They should just legislate global cooling. It would be as effective as any other program they try. What a bunch of clueless wankers.
mid island mike
Posted on August 27th, 2009 at 7:20 pm
hynd Says:
How have seemingly intelligent people been so hoodwinked to buy into the nonsense.
Posted on August 27th, 2009 at 7:38 pm
John Luft Says:
Is anybody listening to these idiots any longer? It’s time to start heaving people into the dungeon for this fraud and farce.
Posted on August 27th, 2009 at 11:41 pm
Soccermom Says:
Stupid stupid stupid.
Posted on August 28th, 2009 at 12:08 am