The cost of climate change


Last year I was lucky enough to meet with this inspiring man who was at least bold / brave enough to admit that they were only able to act so decisively on climate change because they were a dictatorship.  Perhaps the hard truth is there is a lesson to hear with that.  Interesting if not controversial.

Commenting on the recent report on the cost of climate change (see next Blog entry) José María Figueres, former President of Costa Rica and a DARA Trustee, urged governments to redouble efforts to drive investment in tackling climate change or risk destabilising the global economy.

"1.3 billion people are still fighting their way out of the most extreme forms of poverty while major economies are today fighting their way out of crippling financial and economic crises," he said. "We simply cannot afford to part with more growth.

"Governments and international policy makers must act decisively to combat the spiralling costs to national and global GDP resulting from inaction on climate change. With the investment required to solve climate change already far below the estimated costs of inaction, no doubt remains as to the path worth taking."

Yesterday I commented on how the recent American drought could cost upwards of $100million and last night I learn 30% of UK wheat could be unsaleable under standard trading terms due to wet weather.