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Despite the very minimal accessible amount of research and articles that have been published regarding this topic, It is needless to say that climate change has and will continue to have a very notable impact on the economy.
The issue of climate change is usually perceived through an environmentalist perspective. Which is fine, although if we continue to neglect the affects of climate change through different aspects, the loss will be greater. The affect of climate change and the economy is to the likes of a domino effect, everything is responsive and could lead to other problems. In retrospect, the rates of global warming over the last fifty years have almost doubled, the past 14 years have been the warmest recorded in the past 100 years. This evidently shows that climate change is occurring at a rate faster than ever. The damages these statistics are anticipated to have on our economy are quite large, from natural rising sea levels and storm surges costing an annual sum of $1-8 billion, to industrial caused damages that are expected to reach an average of $5 billion annually by 2020. At a steady rate with no changes by 2050, annual damages are estimated to be $43 billion, and in worst scenario up to $91 billion annually.
The problem is clear and the damages are evident. We must insure ourselves by taking precautions to avoid further damages to our planet and our economy, while collectively taking action to solve this problem for the benefit of everyone. When solutions for climate change are discussed its quite often the same suggestions are brought up, walk or bike more, use less gas, use public transportation, use eco friendly products, which is good and will reduce the impact of climate change, but it does not stop there. Though there might not be an objective straight forward solution to this problem, there are ways to reduce the damages and affects of climate change. In relevance to this topic, solutions like reducing air travel when not necessary or when other options are available would have great benefit as air travel is known to be one of the major carbon footprints. Other options like legislating laws that implement carbon taxation, and cost reduction, or rebates of eco friendly transportation. Or simply donating to private organizations which rely on financial support from people, that aim to find effective solutions to climate change issues. And most importantly something everybody should be able to contribute to without an excuse is to create attention, there are endless ways to attract people with social media and the general media. Actions like contacting political figures and bringing these issues to their attention, demanding action. or simply creating websites, polls, and fundraisers go a long way. In summation, we need to be realistic and understand the determination and consistency that is required to achieve our common goal, which can be done by being part of not one thing, but a series of solutions.
