Treasury warns of significant financial impact on U.S. households due to climate change
Originally Published 2 years ago — by CNBC
A report by the U.S. Department of the Treasury warns that climate change will impose significant financial costs on U.S. households. Between 2018 and 2022, weather and climate disasters cost over $617 billion, with 13% of Americans experiencing economic hardship due to severe weather events. The report highlights the risks of pay and benefit disruptions, property destruction, higher consumer product and energy prices, and increased medical expenses. It emphasizes that households, particularly lower-income and vulnerable ones, will bear the brunt of these costs.