White House: Waiting to Act on Global Warming Means Much Higher Costs

http://ift.tt/1zpO63e // 7_28_14_wildfire

Delaying cuts in greenhouse gas emissions to stem global warming would cost significantly more than taking such actions now, according to a new report released Monday by the White House Council on Economic Advisors (CEA)

According to the report, the cost of hitting a specific climate target increases, on average, by approximately 40% in today's dollars for each decade that the U.S. and the world at large delays such actions. This jump in price is due in part to the fact that delaying emissions cuts means that steeper reductions will be required at a later date to reach a given temperature target, compared to taking such steps now. Read more...

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