Global warming has economic consequences
By Rachel Cleetus

November 13, 2006

We can wait no longer on global warming.

But if we act now, we can save not only the environment but our economy, as well.

A new report puts a high price tag on unchecked global warming.

Written by a team of top economists and led by former World Bank Chief Economist Sir Nicholas Stern, the report concludes that fighting global warming now could save the world trillions of dollars.

The heat-trapping gases emitted from burning fossil fuels in automobiles and power plants are a major driving force behind global warming. Carbon dioxide, the most abundant heat-trapping gas, stays in the atmosphere for decades, making the Earth increasingly warm.

As a result, by the end of the century there could be a sharp rise in sea level, droughts, floods, storms, crop failures, ecosystem disruptions, threats to public health and other negative impacts from global warming. This could cost as much as 20 percent of the world's total economic output.

What's more, sea level changes, floods and droughts could displace 200 million people by 2050, according to the report.

The good news is that it would take only 1 percent of the world's annual economic output by 2050 to prevent the worst effects of global warming from ever happening.

New technology, increased efficiency and carbon pricing can help keep costs low in the fight against global warming.

Clean, energy-efficient production passes on savings to consumers.

Generating energy from renewable sources, like wind and solar energy, creates more jobs than other types of power. Markets for low-carbon energy products are likely to be worth at least $500 billion per year by 2050, according to the report.

Clean technology would reduce other types of harmful pollution, like smog and mercury. Cutting air pollution could save billions of dollars a year on health-care costs, the report says.

Carbon trading, which has already reached a level of $30 billion a year, could encourage market-based solutions for reducing global warming emissions. The Chicago Climate Exchange is the world's first stock exchange where businesses can trade reductions in global warming emissions.

California and seven Northeastern states are taking serious steps to curb their emissions. In September, California passed a bill that will cut global warming emissions 25 percent by 2020. Northeastern states are working toward capping emissions from the region's power plants at 2005 levels, followed by an additional 10 percent reduction in emissions by 2019.

Bankers, insurers, investors, utility companies and carmakers, recognize the big financial risk climate change poses and are calling for action.

With the stakes so high, we all need to pitch in to do our part.

Personal choices, business decisions, community planning, state laws, federal laws and international treaties should all be part of preventing the worst effects of global warming.

Trillions of dollars in potential savings make the choice to fight global warming the deal of the century.

Rachel Cleetus is a climate economist at the Union of Concerned Scientists (UCS), the leading science-based nonprofit working for a healthy environment and a safer world. She can be reached at


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A huge win, it's also just a hit on the pause button. Here's some context and ideas about paths forward.

The reach of this story extends from the lowliest working stiff to the highest court in the land.

White supremacist posters on campuses play on ignorance and fear within the very institutions that should be our...

By Wendell Berry

Manifesto: The Mad Farmer Liberation Front

Love the quick profit, the annual raise,
vacation with pay. Want more 
of everything ready made. Be afraid 
to know your neighbors and to die.
And you will have a window in your head.
Not even your future will be a mystery 
any more. Your mind will be punched in a card 
and shut away in a little drawer.
When they want you to buy something 
they will call you. When they want you
to die for profit they will let you know. 
So, friends, every day do something
that won’t compute. Love the Lord. 
Love the world. Work for nothing. 
Take all that you have and be poor.
Love someone who does not deserve it. 
Denounce the government and embrace 
the flag. Hope to live in that free 
republic for which it stands. 
Give your approval to all you cannot
understand. Praise ignorance, for what man 
has not encountered he has not destroyed.
Ask the questions that have no answers. 
Invest in the millennium. Plant sequoias.
Say that your main crop is the forest
that you did not plant,
that you will not live to harvest.

Say that the leaves are harvested 
when they have rotted into the mold.
Call that profit. Prophesy such returns.
Put your faith in the two inches of humus 
that will build under the trees
every thousand years.
Listen to carrion—put your ear
close, and hear the faint chattering
of the songs that are to come. 
Expect the end of the world. Laugh. 
Laughter is immeasurable. Be joyful
though you have considered all the facts. 
So long as women do not go cheap 
for power, please women more than men.
Ask yourself: Will this satisfy 
a woman satisfied to bear a child?
Will this disturb the sleep 
of a woman near to giving birth? 
Go with your love to the fields.
Lie easy in the shade. Rest your head 
in her lap. Swear allegiance 
to what is nighest your thoughts.
As soon as the generals and the politicos 
can predict the motions of your mind, 
lose it. Leave it as a sign 
to mark the false trail, the way 
you didn’t go. Be like the fox 
who makes more tracks than necessary, 
some in the wrong direction.
Practice resurrection.

Wendell Berry is a poet, farmer, and environmentalist in Kentucky. This poem, first published in 1973, is reprinted by permission of the author and appears in his “New Collected Poems” (Counterpoint).

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