UC Berkeley Report Says Global Warming Could Put $2.5 Trillion of California Real Estate at Risk
A new report says that global warming could cost the Californian economy billions of dollars each year, through a combination of rising sea levels, and the increased frequency of wild fires and extreme weather events.
The comprehensive study (PDF), published by researcher’s at UC Berkeley, also claims that $2.5 trillion of Californian real estate assets are at risk. The clear message, says co-author Prof. David Roland-Holst, is the strong economic case for timely action to slash carbon emissions and adapt to the already unavoidable effects of climate change.
“Our report makes clear the most expensive thing we can do about climate change is nothing,” he said. “As we learned in New Orleans, turning your back on the threat of natural disaster doesn’t make it go away.”
In detail, the report found that the insurance and real estate sectors could face damages totalling between $300m and $3.9bn per year. Assets across a number of other sectors are also particularly at risk, including:
- $21bn of energy sector assets;
- $500bn of transport sector assets
- $113bn of agricultural assets
- $5bn of water industry assets; and,
- $98bn of tourism assets.
In US, and particularly global terms, California is already fairly forward-looking in terms of its response to the challenges posed by global warming. We can only hope that the publication of this report, from one of the world’s most respected academic institutions, is likely to further galvanize opinion and spur the state into even more radical action.
Image Credit - cnynfreelancer via flickr.com on a Creative Commons license
So, great bit of reporting here…
• A study funded by the “nonprofit” Next 10 foundation forecasts catastrophic consequences for California from Global Warming with HUGE economic costs – BILLIONS. Which you (of course) happily reprint word-for-word (oh no, we have to do something to stop global warming this is terrible where’s my checkbook!)
• But wait, Next 10 (the “independent, nonpartisan” organization) was founded by venture capitalist and philanthropist F. Noel Perry
• In addition to his other venture capital investments that stand to gain from the anthropogenic global warming SCAM…
• He is also a founding director and former vice chairman of Conservation International, Stipa Investments, Social Venture Network and Investors’ Circle…ALL of which make/made MONEY off of the global warming scam being hyped by every environmental organization…but wait, the icing on the billion dollar cake…isn’t Investors’ Circle a “network of over 200 angel investors, professional venture capitalists, foundations, family offices and others who are using private capital to promote the transition to a sustainable economy. Since 1992, Investors’ Circle has facilitated the flow of over $130 million into 200 companies and small funds addressing social and environmental issues.”…why yes it is! http://www.investorscircle.net
• So that means that this “study” full of disastrous climate projections you reported on as NEWS, produced by the wonderful independent and nonpartisan Next 10 foundation (sounds so wonderful and caring – and a non-profit too, who could question their motives since they’re non-profit), was founded and funded by F. Noel Perry who also happens to be betting on making MILLIONS off of his investments through Investors’ Circle which targets companies that aid in the “transition to a sustainable economy”…aka global warming…
So he hypes the global warming scam through his nonprofit firm while his for-profit investor firm rakes in millions – how stupid are you people in California. Too bad you don’t have any real reporters to uncover some of this.
[...] the impacts and challenges that California and our entire planet face from climate change.” Two and a half trillion dollars worth of coastal property here is at [...]