The World Bank's estimates suggest that a dollar of investment in sustainability yields four dollars in total benefits, with a direct economic gain estimated to sit at $26 trillion.
The Bank notes that by 2030, investments in global architecture need to sit at $90 trillion to yield results, but it adds that these also provide a healthy source of return. The body adds that in order to limit global warming to a temperature increase of 1.5 degrees Celsius, Carbon Dioxide levels will have to fall by about 45% of the levels seen in 2010 - a daunting task especially as a growing global middle class increases the need for transportation and housing, which are the biggest contributors to high emissions.Īnother set of estimates to make the global infrastructure sustainable comes from the World Bank. So, how much will it cost to mitigate climate change? Well, on this front, the Organization for Economic Corporation and Development (OECD) believes that at least $6.3 trillion per year until 2030 is needed in investments to reduce global greenhouse gas emissions, and this bill grows to $6.9 trillion in order to meet the sustainability goals under the Paris Accord. Damages to agriculture and transportation are also quite significant, sitting at $3.7 billion and $3.3 billion, respectively. Out of these, the worst damage is to houses, with housing damages estimated at $5.6 billion. According to estimates from the World Bank, damages from the floods in Pakistan can touch as much as $15.2 billion, while economic reconstruction costs can go even higher to sit at $16.3 billion. These damages have already started to manifest as well, with devastating floods in the Southeast Asian country of Pakistan late last year being the worst in the country's history. Morgan Stanley adds that Asia will be one of the hardest hit regions by climate change, with the estimated cost of damages sitting at $180 billion. However, if this was surprising, you'll be worried to learn about the estimates put forward by a United Nations panel that say that the cost of global warming can reach an absolutely stunning $54 trillion in just a couple of decades from now, or by 2040. Climate change has already made its mark on the global economy as well, with a report from Morgan Stanley estimating that between 20 climate related disasters have cost the world a whopping $650 billion. For instance, most of America's lakes are freezing later, winter temperatures have increased by three degrees Fahrenheit since 1896, and the use of natural gas to heat homes has also dropped since 1974. The Economic Cost of Climate ChangeĪccording to the Environmental Protection Agency (EPA) there are several indicators of climate change that are already taking place. Temperatures are generally the highest in Florida and the lowest in Alaska, while precipitation is highest in Hawaii and the lowest in Nevada, mirroring the regions' geographies.
is unique in terms of climatic diversity, it still is not immune to global warming or climate change. Some of these include semi arid, desert, humid continental, temperate, and oceanic, with Alaska also having some of the most extreme climatic conditions.
This vast geography also lends America a variety of different climates. ranges between 14,494 feet of Mount Whitney in California and -282 feet in the Badwater Basin in Death Valley, California. Within the Continental United States, which consists of the territory located primarily between Canada in the north and Mexico in the south, Minnesota, Florida, Maine, and Washington have the northernmost, southernmost, easternmost, and westernmost points, respectively. Virgin Islands, and the westernmost point is Udall Point in Guam. Considering all American territories, the northernmost American point is Point Barrow in Alaska, the southernmost point is Rose Atoll in American Samoa, the easternmost point is Point Udall in U.S. This lends it a diverse climate courtesy of vast differences between longitudes and latitudes. is the fourth largest country in the world, coming in after Russia, Canada, and China. For more places, head on over to 10 Best Places to Live in the U.S. In this piece, we will take a look at the 30 best places to live in the U.S.
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