The budget could take a ‘huge hit’ from climate change

The budget could take a ‘huge hit’ from climate change

Having already spent $450 billion in disaster aid since 2005, the federal government is still facing rising costs to the federal budget due to the impacts of climate change. A recent report suggests that the federal government must invest in “resilience and make governmentwide plans to manage climate change risks in order to prevent billions of dollars” in damage/costs. Unfortunately, the information needed by policymakers to comprehend the budgetary impacts of such decisions is lacking. Read more here.

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