Cost of climate change and adaptation

Via Climate Progress, a new report has sized both the risks posed by climate change and the costs and benefits of effective adaptation.

A report from the Economics of Climate Adaptation Working Group released today indicates that climate risks could cost nations up to 19% of their GDP by 2030, with developing countries most vulnerable. The report concludes, however, that cost effective adaptation measures already exist that can prevent between 40 and 68 percent of the expected economic loss with even higher levels of prevention possible in highly target geographies. [emphasis mine]

The report is authored by McKinsey and a group of business and non-profit sponsors. The headline numbers are interesting, and I will be interested to see how various constituencies react.