CTV:
Climate change will cost Canada about $5 billion a year by 2020, a startling new analysis commissioned by the federal government warns.Those costs will continue to climb, to between $21 billion and $43 billion a year by the 2050s, the report estimates. It all depends on how much action is taken to cut global greenhouse-gas emissions, as well as how fast the population and the economy grow too.
In the worst-case scenario, climate change could cost as much as $91 billion per year by 2050.
You scoff, but consider:
The report was issued Thursday morning by the prestigious National Institute For Pulling Numbers Out Of Our Asses.
Sounds about right to me. (Portions of the preceding sentence might have been accidentally edited for clarity.)
Comments (2)
Given that this analysis is correct (which is doubtful to say the least, but who cares?) the question is then:
Will government programs and taxes designed to abate or prevent climate change be cost effective or will those expenditures just make us feel good since, at least, we tried?
I think we all know the answer to that.
Posted by Lorne | September 29, 2011 9:32 PM
Posted on September 29, 2011 21:32
Let's put this into perspective.
By 2020, climate change will cost Canada approx. .0038% of GDP, rising to approx. .007% to .014% of GDP by 2050.
No word on the costs of Climate change programs, but if I recall correctly they were costed in the tens of billions of dollars today, and given that it would be a government program, that number is low. I'll take my chances on adaptation rather than reversal.
Posted by Oxygentax | September 29, 2011 11:15 PM
Posted on September 29, 2011 23:15