Climate Change: Information on Potential Economic Effects Could Help Guide Federal Efforts to Reduce Fiscal Exposure
Abstract
Over the last decade, extreme weather and fire events have cost the federal government over $350 billion, according to the Office of Management and Budget. These costs will likely rise as the climate changes, according to the U.S. Global Change Research Program. In February 2013, GAO included Limiting the Federal Governments Fiscal Exposure by Better Managing Climate Change Risks on its High-Risk List. GAO was asked to review the potential economic effects of climate change and risks to the federal government. This report examines (1) methods used to estimate the potential economic effects of climate change in the United States, (2) what is known about these effects, and (3) the extent to which information about these effects could inform efforts to manage climate risks across the federal government. GAO reviewed 2 national-scale studies available and 28 other studies; interviewed 26 experts knowledgeable about the strengths and limitations of the studies; compared federal efforts to manage climate risks with leading practices for risk management and economic analysis; and obtained expert views.
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 01, 2017
- Accession Number
- AD1176986
Entities
People
- Anne Hobson
- Cindy Gilbert
- Colleen Candrl
- Ellen Fried
- J. A. Gomez
- Jeanette Soares
- Joseph D. Thompson
- Kiki Theodoropoulos
- Lilia Chaidez
- Michelle R. Wong
- Oliver Richard
- Sara Sullivan
- Tim Guinane
Organizations
- United States Government Accountability Office