Climate Change Is Real And It's Going To Cost Us Billions | Editorial - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Property and Casualty News
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Property and Casualty News RSS Get our newsletter
Order Prints
November 29, 2018 Property and Casualty News
Share
Share
Post
Email

Climate Change Is Real And It’s Going To Cost Us Billions | Editorial

Philly.com

Nov. 29--The White House thought people wouldn't notice a hair-raising climate-change report if it was released at 2 p.m. on Black Friday, when we were recovering from food hangovers.

But it's  hard not to notice, since most people know that average air temperatures are higher than they've ever been, that there's more flooding in the East, more wildfires in the West, and more droughts in the Midwest. And, they know that global warming has weaponized our weather.

The problem is getting the fossil-fuel industry, a driver of heat-trapping greenhouse gases, and other powerful forces, such as big agriculture, to stop causing lasting damage to the planet we inhabit, while unleashing brutal and damaging forces on the climate.

If those who deny the facts — including President Trump — don't care that thousands more people will meet premature deaths and countless others will suffer respiratory ailments, or that food supplies will be scarcer, that forests are shrinking, and coastlines are retreating, then they should consider the economic arguments.

How about paying for the damage of unrestrained climate change?

The National Climate Assessment  contains the most detailed description of the economic impacts of climate change to date.

Climate-related disasters will suck up 10 percent of our entire economy by 2100. Heat-related deaths will cost $141 billion, sea-level rise will cost $118 billion, and damage to roads, bridges, and other infrastructure will cost $32 billion.

Ocean acidification is already killing shellfish and corals. The loss will amount to $230 million. Red tides, such as the one in Florida this summer, will be more frequent, killing fish and tourism.  In just New Jersey and Delaware, rising sea levels and storm surges are expected to cost property owners $30 billion.

Cities, such as Philadelphia and Pittsburgh, with their abundance of pavement and lack of  vegetation, will be worse hot spots than they already are. Rural Pennsylvania will have to cope with an increase in invasive plants and insects, and farmers will see crop yields and dairy production drop.

But President Trump announced this week that he just doesn't believe his own administration's report. That's as practical as not believing in gravity.

"You can say 'I don't believe in gravity.' But if you step off the cliff, you are going down," climate scientist Katherine Hayhoe, of Texas Tech University and an author of the report, told CNN.

Last month, the U.N. Intergovernmental Panel on Climate Change said we've got 12 years to forestall the negative effects of climate change.  The administration ignored that, too.

There are solutions, if we act now. The Trump administration should, but is unlikely, to stop undermining coal-plant and vehicle emission standards. Congress should impose a carbon tax on polluters and encourage clean, renewable energy development as well as shore up areas in harm's way.

Environmental protections can also happen at the state level. States, such as New Jersey and California, have enlightened approaches to protecting residents. But Pennsylvania's legislature has starved its environmental protection agency. Encourage Gov. Wolf to make an issue out of our survival and that of future generations with a far more aggressive response to climate change than we saw in his first term.

___

(c)2018 Philly.com

Visit Philly.com at www.philly.com

Distributed by Tribune Content Agency, LLC.

Newer

Fire damages Keokuk home

Advisor News

  • Nearly half of nonretirees doubt they will fully retire
  • How much could failure to fund Social Security cost average Americans?
  • How can more Americans achieve financial independence?
  • Savers vs. spenders: How money management attitudes impact financial confidence
  • Demonstrating the value of life insurance to Gen Z
More Advisor News

Annuity News

  • Advisors don’t have an annuity problem; they have an integration problem.
  • Agentic AI is transforming insurance sales both for consumers and agents
  • Canvas steps into the direct-to-consumer market that has yet to take off
  • The next growth phase in life/annuities depends on modernization
  • CA judge certifies class action in teachers’ lawsuit over in-plan annuity fees
More Annuity News

Health/Employee Benefits News

  • Cigna Healthcare expands AI-enabled personalized support
  • Insurers hedge on Trump-backed pledge to improve denials process
  • Tips for life, health insurance for military members, families
  • Health insurers use a whole arsenal of tools to deny care, increase profit
  • Health insurers use a whole arsenal of tools to deny care, increase profit
More Health/Employee Benefits News

Life Insurance News

  • Agentic AI is transforming insurance sales both for consumers and agents
  • USAA introduces Secure Start whole life program for children
  • Best’s Market Segment Report: AM Best Maintains Stable Outlook on South Korea’s Non-Life Insurance Market
  • Horace Mann Strengthens Customer Relationships and Accelerates Long-Term Growth Through Transactions with Medical Mutual of Ohio
  • Regulators: ‘No firm conclusions’ from first offshore reinsurance filings
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Prosperity Life GroupSM Launches Prosperity PathWaySM Series, Bringing Greater Choice and Flexibility to Retirement Income Planning
  • Senior Market Sales® Fortifies Annuity Reach With Acquisition of Retirement Planning Firm Stratton & Company
  • RFP #T01625
  • Rockwood Programs Appoints Kerry Ladouceur as Vice President, Financial Lines
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet