Delay Action on Climate Change by 10 Years and Costs Rocket 40%: Report

All I know is that when I was in high school we were being warned of the impending new ice age. We should all be living in igloos at this point. We were either going to freeze to death, or the U.S.S.R. and U.S.A. were going to nuke us all out of existence. So, let’s party before the apocalypse starts without us. I think you have to R.S.V.P. before your can R.I.P.

TIME

A new report estimates the cost of mitigating the effects of climate change could rise by as much as 40% if action to reduce greenhouse gas emissions is delayed 10 years — immediately outweighing any potential savings of a delay.

The White House’s Council of Economic Advisers, U.S. President Barack Obama’s source for advice on economic policy, compared over 100 actions on climate change laid out in 16 studies to extract the average cost of delayed efforts. Released Tuesday, the findings suggests policymakers should immediately confront carbon emissions as a form of “climate insurance.”

“Events such as the rapid melting of ice sheets and the consequent increase of global sea levels, or temperature increases on the higher end of the range of scientific uncertainty, could pose such severe economic consequences as reasonably to be thought of as climate catastrophes,” the report reads. “Confronting the possibility of climate catastrophes means taking…

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