The study, commissioned by the Risky Business Project report, which describes itself as nonpartisan and is chaired by former New York City Mayor Michael R. Bloomberg, former Treasury Secretary Henry M. Paulson Jr. and Thomas F. Steyer, a former hedge fund manager, makes the case for long-term business planning and for reducing emissions blamed for heating the planet.
- $66 billion to $106 billion in coastal property below sea level by 2050 with the Northeast the most affected,
- Up to $701 billion worth of existing coastal property will below mean sea levels, with more than $730 billion of additional property at risk during high tide
- Labor productivity of outdoor workers could be reduced by 3-5 percent with the Southeast the most affect with up to 120 days a year of Plus 95 degree air temperatures.
- 14 percent increase in the demand for electricity for cooling and heating costing customers up to $19 billion per year.
- 11,000 to 36,000 additional deaths a year directly related to climate change.
- Crop yield reductions in the Midwest by 19 percent in the midcentury and by 63 percent at the end of the century.
- 18 percent reduction in the amount of potable/drinkable ground water
The report concludes:“With this report, we call on the American business community to rise to the challenge and lead the way in helping reduce climate risks. We hope the Risky Business Project will facilitate this action by providing critical information about how climate change may affect key sectors and regions of our national economy.”
The Economic Risks of Climate Change in the United States