Florida and Climate Change: The Costs of Inaction

Florida and Climate Change: The Costs of Inaction

Earlier this year, Florida established its own greenhouse gas emission targets, including an 80 percent reduction below 1990 levels by 2050. Although achieving the target will involve non-trivial expenditures (and a possible legal battle with the Environmental Protection Agency), the failure to do something about climate change could lead to severe consequences for the state, a recent report from the Global Development and Environmental Institute at Tufts University finds. Funded by Environmental Defense, the report, Florida and Climate Change: The Costs of Inaction (104 pages, PDF), provides a detailed analysis of the potential consequences of accelerated climate change for the state's economy. The report finds that if greenhouse gas emissions are left unchecked, the impact on tourism, electric utilities, and real estate combined with an increase in the number and intensity of hurricanes could shrink Florida's gross state product by 5 percent by the end of the century.