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NEWS COVERAGE: Economic Impacts of Climate Change Study

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Climate Study Puts Damage to New Jersey in the Billions

 New Jersey is facing losses of tens of billions of dollars over the next few decades from the effects of climate change, according to 17-page report released yesterday by an independent research group.  A rapid rise in sea level, increased flooding, and more frequent and more intense storms will damage the state's coastal communities, including businesses, infrastructure and fresh water supplies, the Center for Integrative Environmental Research at the University of Maryland said.

The Star-Ledger July 25

   

Warming Trend to Cost Illinois Billions, Study Projects

 If climate change is left unchecked, the costs to Illinois from flood abatement, water treatment, shipping, farming and related goods and services will skyrocket to at least $43 billion annually by the 2030s, according to a study released this week.  The report by the University of Maryland takes data from more than 30 studies of climate change and its effects on economics and the environment and hits the total button. Presented this week to a national conference of state lawmakers convening in New Orleans, the study breaks out specific costs for eight states, including Illinois.  'We have in the U.S. perceived the issue from one side -- what it would cost us to do something about climate change,' said Matthias Ruth, who coordinated the research at Maryland's Center for Integrative Environmental Research. The new study, he said, seeks to calculate the costs of inaction, as well.  And in many cases, the bill is higher.

Chicago Tribune, July 25

   

Climate Change to Threaten Nevada Water Supplies

 Climate change could come with profound risk to Nevada's water supplies and at great cost to the state's economy, a new study asserts.  The report released this week by the National Conference of State Legislatures and Center for Integrative Environmental Research concluded that rising temperatures associated with a warming climate could create "profound drought conditions" in Nevada, which was examined along with 11 other states around the country.  'Some of these impacts are already noticeable and it's certainly not going to get better as climate change progresses,' said Daria Karetnikov, a researcher at the University of Maryland who compiled the report.

Reno Gazette-Journal July 25

   

Warming May Shorten Colorado Winters

 If greenhouse gas emissions aren't curtailed, climate change will reduce Eagle County's snowpack by 57 percent by 2085, according to a new report.  'The state's most popular tourist activity is at risk from climate change,' said the report, published Wednesday by the Center for Integrative Environmental Research at the University of Maryland. The report, Economic Impacts of Climate Change on Colorado, does not paint a pretty picture for skiing -- and the attendant industry of real estate -- over the next century.  The 'snow season' could become 30 days shorter and the snowline could rise by 328 to 1,312 feet if emissions continue at the current rate, the study said.

Vail Daily July 25

   

Global Warming Predicted to Cost Ohio Billions

 Ohio could lose billions of dollars in the shipping, tourism and recreation industries in coming decades if global warming continues unabated, researchers at the University of Maryland contend.  'Ohio's greatest challenge is likely to be in adapting to climate change along its waterways and on Lake Erie, where the most significant economic and ecological impacts will occur,' the researchers conclude in the peer-reviewed report.  Specifically, companies will be forced to spend more on harbor dredging, dock adjustments and other significant infrastructure changes because of lower water levels in Lake Erie.  'Ohio's economy is facing tough times, and ignoring the problems created by climate change will add another unnecessary burden,' Jim Coleman, executive director of Ohio's Tomorrow, said in response to the report.

Cleveland Plain Dealer July 24

   

Climate Change Could Cost Kansas $1 Billion

Rising temperatures and reduced water supply could cost Kansas more than $1 billion in agriculture losses by 2017.  That's according to a new study from the University of Maryland's Center for Integrative Environmental Research. The study analyzed the costs of global warming on several states and was paid for in part by the Environmental Defense Fund.  The report for Kansas says higher temperatures and lower rainfall amounts could effect the state's agriculture sector with flooding, more invasive plant species and damage to crops and livestock.

 Associated Press, July 24

   

Climate Change Will Cost US Billions of Dollars: Study

 UM's press release was published verbatim by many news agencies and publications, including China's news service.  "Climate change will carry a price tag of billions of dollars for some US states, researchers have said.  Combining existing data with new analyses, researchers at the University of Maryland studied some states in the US and projected the long-term economic impact of climate change on them.  For example, the study said, Colorado would lose more than $1 billion due to the impact of a predicted drier and warmer climate on tourism, forestry, water resources and health.  Illinois will suffer billions of dollars in losses from the impact of climate change on shipping, trade and water resources. Warmer temperatures and lower water levels have been predicted for much of the state.  The researchers conclude that the costs have already begun to increase and are likely to stay."

Xinhua News Agency (Mangalorean News), July 24

   

Full Committee hearing, Testimony of Fred Krupp, President Environmental Defense

Fred Krupp, President Environmental Defense, presents testimony regarding America's Climate Security Act of 2007 citing the recent UM study - A recent report by the University of Maryland reviewed data and studies on the economic impacts of climate change and the costs of inaction. The review finds that economic impacts of climate change will "occur throughout the country, [and] economic impacts will be unevenly distributed across regions and within the economy and society." Just to highlight one finding of the report, it "found that negative climate impacts will outweigh benefits for most sectors that provide essential goods and services to society."

US Senate Committee on Environment & Public Works, November 15

   

Global warming legislation, Statement of David Hawkins, Director Climate Center Natural Resources Defense Council

David Hawkins, director, Climate Center Natural Resources Defense Council, appears before the House Committee on Senate Environment and Public Works and recites, in detail, the results of a recent UM study to make his point. - "A recent study from the University of Maryland reviews the extensive research literature on the costs due to plausible climate change in the US, including coastal property losses from sea level rise, increased damages from intensified hurricanes, drought and wildfire risks in the west, disruption of water supplies, decreased agricultural yields in most of the country, and many more harmful impacts."

Congressional Quarterly Testimony, November 13 (Transcript)

   

Report Warns of Climate Change's Hidden Costs

The hidden costs of climate change could cost US businesses hundreds of billions of dollars, slash jobs and kill off niche industries, a new report by the University of Maryland (Public Policy) claims.  The research, released last week, showed that without swift and targeted government action, the indirect effects of global warming – such as frequent water shortages, natural disasters, pest infections and poor health – would push up prices and severely impact industry.

Business Green (UK), October 24

   

Climate change gets local

According to a recent University of Maryland report, The US Economic Impacts of Climate Change and the Costs of Inaction, every sector of the US economy will experience the impacts of a changing climate. "The Northeast and Mid-Atlantic region will see increased vulnerability to sea level rise and storms," the study found. The study counted 70 weather-related natural disasters since 1980 in the region causing $560 billion in damages. The report urges strong national policy to reduce the effects of climate change."

Baltimore Community Times, October 24

   

Report warns of climate change's hidden costs

The hidden costs of climate change could cost US businesses hundreds of billions of dollars, slash jobs and kill off niche industries, a new report by the University of Maryland claims. The research, released last week, showed that without swift and targeted government action, the indirect effects of global warming – such as frequent water shortages, natural disasters, pest infections and poor health – would push up prices and severely impact industry.

Personal Computer World (UK), October 24

   

The Buzz on Gore's Nobel Peace Prize

The Christian Science Monitor lines up critics of Al Gore and global warming (as well as supporters), and it then adds this last paragraph: "A new study by University of Maryland researchers, meanwhile, buttresses Gore's position that dire economic effects of climate change warrant quick action. It warns that 'the range of climatic changes anticipated in the United States ... will have real impacts on the ... environment as well as human-made infrastructures and their ability to contribute to economic activity and quality of life.' It concludes: ' ... climate change will directly or indirectly affect all economic sectors and regions of the country ... the costs of climate change rapidly exceed benefits and place major strains on public sector budgets, personal income, and job security.' "

The Christian Science Monitor, October 18

   

Warming's Costs to Top Its Benefits, Study Says

The costs of climate change to the United States will outweigh its benefits, according to a new University of Maryland study. The analysis, conducted by the university's Center for Integrative Environmental Research and funded in part by the advocacy group Environmental Defense, represents the first comprehensive economic analysis of global warming's impact on the nation in the years to come. But the study's authors declined to put an overall price tag on climate change's future impact, saying it is impossible to predict how it would affect the US economy on a broad scale. 'Economic costs of climate change will occur throughout the country,' said Matthias Ruth, the study's lead author, in a conference call with reporters. 'We've connected the dots as far as the data would allow.' Global warming will strain public budgets and raise the costs of cooling American homes, the authors write, and it will provide only temporary benefits to the mid-Atlantic's agricultural sector. For example, a predicted rise in sea level would require Hawaii to spend nearly $2 billion on upgrading its drinking water and wastewater facilities over the next 20 years.

Washington Post, October 17 (Free registration required)

   

Climate Change Costs Outweigh Benefits

A University of Maryland study has concluded that the negative economic impact of climate change on the United States will outweigh any possible benefits. The university's Center for Integrative Environmental Research said the exact price tag of climate change's future impact on the United States is impossible to predict, but the authors wrote that public budgets will be strained and the costs of cooling US homes will skyrocket, The Washington Post reported Wednesday. ... The study predicts that temporary benefits of global warming will be felt by the mid-Atlantic's agricultural sector, but the benefits will be offset by costs including an estimated nearly $2 billion Hawaii will be forced to spend on upgrading its drinking water and wastewater facilities over the course of the next 20 years.

United Press International, October 17

   

Economic Costs of Climate Change 'Will Affect Every American'

Independent economists and environmentalists are warning of dire consequences for the US economy if policy makers fail to take urgent action on climate change. "Climate change will effect every American economically in a significant and dramatic way," said Matthias Ruth, director of the University of Maryland's Center for Integrative Environmental Research. In a new study released this week, Ruth observed that further delays in tackling climate change would not only cause greater damage to the US economy, but would also raise the future cost of dealing with natural disasters. The authors of the study, entitled The US Economic Impacts of Climate Change and the Costs of Inaction, say their efforts to analyze the economic research done in the past and pull in other relevant data make the study the first of its kind.

One World, October 17

   

Hidden Costs of Climate Change: Major, Nationwide, Uncounted

The total economic cost of climate change in the United States will be major and nationwide in scope, but remains uncounted, unplanned for and largely hidden in public debate, says a new study from the University of Maryland. The report, The US Economic Impacts of Climate Change and the Costs of Inaction, is the first to pull together and analyze the previous economic research on the subject, along with other relevant data, in order to develop a more complete estimate of costs. ... 'Climate change will affect every American economically in significant, dramatic ways, and the longer it takes to respond, the greater the damage and the higher the costs,' says lead researcher Matthias Ruth, director of the University of Maryland's Center for Integrative Environmental Research and the Roy F. Weston Chair in Natural Economics. 'The national debate is often framed in terms of how much it will cost to reduce greenhouse gases, with little or no consideration of the cost of no response or the cost of waiting. Review and analysis of existing data suggest that delay will prove costly and tip the economic scales in favor of quicker strategic action.'

Environmental News Network, October 17

   

Maryland Could Pay Heavy Price for Global Warming, Researchers Warn

Global warming will hit Maryland and neighboring Mid-Atlantic states harder than any other region in the United States, predicts a study the University of Maryland released Tuesday. Nationwide, global warming will cause more forest fires and floods, lower farm productivity due to drought and crop diseases, and coastal damage due to rising sea levels, according to the report by the university's Center for Integrative Environmental Research. But the Mid-Atlantic -- including Maryland, West Virginia, Pennsylvania, New York, Delaware and New England -- may see the worst of it.

Southern Maryland Online (Capital News Service), October 17

   

Hidden Costs Of Climate Change In US: Major, Nationwide, Uncounted

The total economic cost of climate change in the United States will be major and nationwide in scope, but remains uncounted, unplanned for and largely hidden in public debate, says a new study from the University of Maryland . The report, The US Economic Impacts of Climate Change and the Costs of Inaction, is the first to pull together and analyze the previous economic research on the subject, along with other relevant data, in order to develop a more complete estimate of costs. While much of the public debate has focused on the upfront costs of emission controls, there's been only limited research on subsequent expenses, such as rebuilding or preparing infrastructure to meet new realities and the ripple economic effects on the agricultural, manufacturing and public service sectors. In part, the report evaluates the "costs of inaction" -- how a failure to reduce greenhouse gases can make response and adaptation more expensive.

DentalPlans.com, October 17

   

Climate Change--US: Delay Now, Pay Dearly Later

The United States is facing hundreds of billions of dollars in weather-related damages in coming years if it does not act urgently on climate change, the first-ever comprehensive economic assessment of the problem has found. The costs of inaction on climate change on US infrastructure, and its agricultural, manufacturing and public service sectors, will far outweigh the costs involved in making the needed reductions in greenhouse gas emissions, according to the report, The US Economic Impacts of Climate Change and the Costs of Inaction, released Tuesday. 'We're making billions of dollars of infrastructure investments every year and often without taking impacts of climate change into account,' said report co-author Matthias Ruth, director of the University of Maryland's Centre for Integrative Environmental Research.

Inter Press Service (Italy), October 16

   

Study: Inaction on Climate Change is Costliest Option for US

Researchers say inaction in responding to the challenges of climate change in the United States will cost billions of dollars. In a new report, researchers at the University of Maryland warn that the costs of global warming could place major strains on US government budgets, personal income and job security. From Washington, VOA's Margaret Besheer has more. ... Matthias Ruth was the principle investigator of the study and heads the university's Center for Integrative Environmental Research. He says researchers are exploring strategies for curbing these emissions, but implementation of many of those strategies has been hindered because of their cost. 'Changing technologies, changing land use, changing consumption behaviors, all of those are quite costly,' he said. 'What has been forgotten in the debate though is the fact that not making the changes that are necessary is costly as well. We already experience the impact of climate change on agriculture, on forestry, on industry, on transportation, as well as the water and energy sectors of our economy.'

Voice of America, October 16

   

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