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WASHINGTON, DC: July 09, 2014. In May this year the U.S. Global Change Research Program, mandated by Congress, published its third national climate assessment.

The report confirmed that climate change is affecting every key sector of the U.S. economy and society – including the future viability of 13 major airports and the economies they support.

This was followed in June with the launch of 'Risky Business' - a project to determine the risk assessment of climate change on the U.S. economy. The report has a stark warning: Time is running out for the country and business as usual.

Risky Business is an initiative of ex-U.S. Treasury secretary Henry Paulson, former mayor of New York Michael Bloomberg and Thomas Steyer, founder of Farallon Capital Management.

Just to get the reader's attention, they say that by 2050 existing U.S. coastal property worth US$66-US$106 billion will be below sea level, rising to US$238-US$507 billion by 2100.

Read more in Issue 07/2014 of Freightweek's monthly magazine. Meanwhile, click on 'Risky Business' below to view a video on the report's findings.

Risky Business

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