Bloomberg, Steyer, Paulson Team Up To Gauge Global Warming’s Economic Toll

The goal of the new Tom Steyer-Hank Paulson-Michael Bloomberg climate initiative has been revealed: make the case that failing to act on global warming is far more expensive than cutting emissions.

“Climate change is every bit as big a risk to our economy as it is to the environment,” says Paulson, 67, who was chairman and chief executive officer of Goldman Sachs before he went to Washington.  “With any complex issue, we can never know with certainty what the timing and the impact will be, but we know from the data that the climate risk is very real.  If we quantify its economic impact, I think that will be a catalyst for action.”

Bloomberg, Steyer, Paulson Team Up To Gauge Global Warming’s Economic Toll