Risky Business Report Finds Climate Change May Cost U.S. Billions

A new study on the economic risks of climate change in the U.S. says the nation stands to lose billions of dollars due to rising seas, increased damage from storm surge and more frequent bouts of extreme heat. The report, called Risky Business, was commissioned by a research organization helmed by former officials including ex-Treasury Secretary Henry Paulson and former New York mayor Michael Bloomberg. It finds that, if we continue on our current path, by the year 2050, between $66 billion and $106 billion worth of existing coastal property in the country will likely be below sea level.