Wall Street Banks Warn: Climate Inaction Will Cost Trillion of Dollars

[GoLeft TV]

As President Obama heads to the Arctic to discuss climate change, just mere weeks after approving Shell Oil’s bid to drill for oil in the fragile environment, a very different group is sounding the alarm over the dangers of a warming climate. That group, surprisingly, is Wall Street bankers.

Citibank has released a new report showing that taking action now against the growing threat of climate change would save an astonishing $1.8 trillion by the year 2040. Conversely, the report says that if no action is taken, the economy will lose as much as $44 trillion during that same time period.

[Agnosticsherbet]

1. The sitation must indeed be dire.

[PoliticAverse]

2. Translation: Wall Street Banks have come up with a new way to get more $$$$ from the government. n/t

[global1]

3. It Seems To Me That Insurance Companies Would Be In Great Peril If Climate Change Continues.....

As the climate changes and we experience more droughts, floods, tornadoes, hurricanes, etc - that the insurance companies will go broke if they have to pay out claims.

Either they raise their premiums much higher which will have an effect on you and me and our pocketbooks and risk losing business - or they work with our representatives in D.C. to begin to really get serious about climate change and push for more ways to minimize and maybe reverse its course.

Why insurance companies don't lobby against climate change is beyond me?

[Moostache]

4. looks like someone finally figured out how to monetize existence...

I knew things were bad, I just didn't want to believe they are THIS bad...

If Wall Street is singing, the canary is surely dead.