Translating climate risks into dollar values has become a lucrative business
Hurricane Sandy battered Manhattan in 2012, Emilie Mazzacurati founded a firm in California to analyse the risks posed by climate change to business. She called it Four Twenty Seven, after the state’s target of lowering annual greenhouse-gas emissions to the equivalent of 427m tonnes of carbon dioxide by 2020. That reference quickly became outdated. The target was adjusted for technical reasons two years later, and rendered moot in 2018 by the announcement of a net-zero goal.
On such a timescale the range of estimates for the impact of global warming should be quite narrow, says James McMahon of Climate Service. To handle unpredictable inputs, such as whether a city will decide to build sea walls, climate-service firms offer a range of scenarios.
France Dernières Nouvelles, France Actualités
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