The Risky Business Project and the Financial Risk that Faces our Nation

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On Thursday, SuperGreen Solutions of the Mid-Atlantic Charlotte office participated in a private call that focused on The Risky Business Project, a first-of-its kind report that quantifies the financial risk that the U.S. faces if climate change continues. The discussion was lead by Kate Larsen, Research Director of the Risky Business Project, Matt Lewis, Director of Communications of the Risky Business Project, and Frank Nutter, CEO of Reinsurance Association of America.

Through the discussion, SuperGreen Solutions was able to get a better understanding of what sectors and regions on a national, state and regional level are most at risk and understand how power needs, crop yields, and labor will be affected if climate change continues.

Because the geography through the U.S. varies so widely, there is no such thing as an average American. The impact of climate change is going to vary widely depending on location, and some locations will be impacted more than others.

The primary impacts of climate change is extreme heat and rising sea levels.  In the Gulf Coast, Northeast, and Southeast sea levels will rise, causing increased damage from storm surge. This will likely lead to an additional $2 to $3.5 billion in property losses each year by 2030. Extreme heat in interior states, such as the Midwest and Southwest will affect human health, labor productivity, and strained electricity grids.

After the discussion, Thomas Hsaio, President of SuperGreen Solutions of the Mid-Atlantic Charlotte office commented, “Although some businesses, industries, and regions of the U.S. will feel the impact of climate change more than others, if U.S. businesses and policy makers do not take immediate action, the American economy on a National level could face significant disruption.  The Risky Business Project gives better estimates and understanding of the fiscal impact that climate change will have on key sectors of the U.S. economy.  We hope that local, state, and national leaders will take this critical information and make investments and proposals that will determine a better economic future.”

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