Climate change will cost the U.S. economy hundreds of billions of dollars by the end of the century, damaging everything from human health to infrastructure and agricultural production, according to a government report issued on Friday.
The White House dismissed the congressionally mandated reported as inaccurate.
The report, written with the help of more than a dozen U.S. government agencies and departments, outlined the projected impact of global warming in every corner of American society, in a dire warning that is at odds with the Trump administration’s pro-fossil-fuels agenda.
“With continued growth in emissions at historic rates, annual losses in some economic sectors are projected to reach hundreds of billions of dollars by the end of the century – more than the current gross domestic product (GDP) of many U.S. states,” the report, the Fourth National Climate Assessment Volume II, said.
Global warming would disproportionately hurt the poor, broadly undermine human health, damage infrastructure, limit the availability of water, alter coastlines, and boost costs in industries from farming, to fisheries and energy production, the report said.