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Climate Change Is Costing Us Billions
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- Опубліковано 5 лют 2023
- climate change, it’s a pretty hot topic (pun intended).
But did you know that it’s also costing us billions in economic prosperity? In this video, we take a look at the ways climate change is impacting our economy - and how we can begin to address it.
This video is perfect for anyone looking to learn more about economics and climate change - or for anyone who wants to help make a difference in the world!
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Pretty much the last thing I want from UA-cam is to have my subscription feed cluttered by 'short' videoes..
Avoided designed-for-monkeys tiktok videos for years. EE brought that junk-style here. Mate, move them to a 3rd channel. Call them "economics blabbered". What can you explain in 60 seconds?
@@chefnyc I know the feeling - UA-cam is becoming useless
Yep. I love UA-cam, I pay for premium but these shorts have fucked it.
@@SpMoose Absolutely..😪
what happened to this channel?
Is cost the best metric to use?
for example; My home has not changed in 5 years. Not even the paint. 5 years ago the value of it was half of what it is now. The cost of materials/labor has also increased by 25%+ in that same time frame. My home would be more expensive to repair/insure now then 5 years ago.
yeah it is a good metric.
I would prefer if instead of doing all of these shorts you did more long videos even if it only 5 minutes.
For insurance the solution is simple, if you live in an area with few natural disasters then switch to a regional provider with lower costs so you aren't paying for people across the country.
Let the people who cost the most run up their insurance premiums & eventually make those companies bankrupt or just not financially visible to serve those areas.
Insurance companies are scams though, screw them.
this is one of the worst takes ive ever seen about climate affected communities, almost up there with ben shaprio's "just sell your house and move"
This is a horrible take . This will force companies to not insure areas or jusy hike the rates .
You forget about the fact that insurance companies insure themselves by buying insurance funded by all insurance companies and taxpayers. And the real thevies are those that don't insure or file false claims or other moral issues.
@@shayan_idk Well thats good for you, but why am I suddenly obligated to cover the costs of your "climate effected community" despite living over a thousand miles away?
If someone wants to live there then they should have to pay for the issues with that area themselves.
My husband switched insurance providers last year to a regional one & we are saving quite a bit, I feel zero guilt in not paying for someones housing costs on the other side of the country.
Dumbass merican take
Please, more on measuring global warming costs
@christ griffin 0 costs? so they changed name to something less misunderstood, just to get some legitimate measurements, fair enough
Americans: Let's build houses from wood.
Your entire argument is correct IF anthropogenic climate change is correct. Bluntly, the release of carbon dioxide by human activity has caused little, possibly no, significant changes in weather. Think about it, the 1 degree C increase over the past 170 years is a fraction of the difference between the low and high temperature in any location on any given day. Deaths due to climate/weather related disasters (floods, droughts, storms, wildfires, etc) are 1/50th what they were when the UN started taking world-wide statistics about 50 years ago. The Earth has had many periods of much warmer (and cooler) weather - just in historic times, much less prehistoric times and paleontological evidence indicates carbon dioxide levels of many times today's were the norm several times in the earths past - times when plant and animal life were much more abundant than today.
Why do people on the internet love making things up so much? 1/50 of what they used to be really? Couldn't even make it sound believable? Even mentioning the UN as your source, like they are the first thing to pop up when you Google it, with a long list of documentation on how it's gotten worse!
@@malrose - For every million people on earth in 1920, 247 died from climate related causes (extreme temperature, drought, flood, storms, wildfires, etc). in 2010 2.5 per million people died from the same causes. Technically a touch more than 1/50th, but close enough for commenting. And I misremembered. The UN (specifically, the World Bank) is the source of the population figures. Deaths come from the UK government Meterological office datasets. I think both have sufficient credibility.
Heh, insurance rates going up is one thing, people being unable to get insurance at all is another!
Name something that global climate change doesn't get linked to. Any % complete challenge.
Sudden death syndrome...
Not linked to the willful self ignorance of folks denying that adding 51 billion tons of greenhouse gases pollution to our shared atmosphere annually doesn't trap heat.
Today I dropped off my bed and that wasn't caused by anthropogenic climate change.
It’s almost like the worldwide issue that effects the place where we literally do everything has an effect on… everything.
im eating rn cuz im hungry, I don't think that's connected to climate change
The most costly part of climate change are policies aimed to mitigate it. Period.
China emits more CO2 than US and Europe combined, yet they are still poor on per capita basis and rely heavily on industry. What about much less industrialized regions like India or Africa? They all are just starting to transform into industrialized countries. If Africa ever gonna catch up with at least China in terms of living standards, they will need to develop huge industrial capacity which will generate vast amounts of CO2. With its 2.5 billion population (by 2050 forecasts) that translates to yearly emissions of 15 to 20 billion tonnes of CO2 - over 2x of those of Europe and US right now.
This whole carbon madness in EU and US with its taxes, certificates, regulations and restrictions will change nothing about trend that is set by the developing countries and their rise from poverty - you can't develop emerging economy with advertising agencies and TikTok influencers.
Something is better than nothing and even if jusr you guys stop emitting it will slow this disaster down considerably.
Nevertheless you can just impose carbon border tax on our goods and force us to change.
I know developing world should change and all of them have there own net zero targets but if this blame game by both sides continues we will achieve nothing.
I see a lot of people here who say the West has produced more historically and even produces more today (per capita) but now they want us to stop emitting
I hate how USA people will use stats in their favour to blame China for the problem like you did above, but then when you look at the actual numbers USA is far worse polluter.
USA pollutes 15.5 per person, China pollutes 7.4 per person.
Should we ignore China has 1.44 billion people and USA has 332 million people so China has far more need? We should ignore that right?
So let's just drop our living standards to the ones of Indians? Does that seem fair?
Do you really think it's their fault that they want to improve their lives? Why not help them do so in a green way?
Also, you left your claim in the start completely unsupported. Why is that?
@@taikurinhattu193 please check out the books I linked in your other post. You may find them eye opening. They actually answer your question here on why it’s impossible to provide “green energy” to the third world and the human impact that has.
The books also offer possible solutions.
Dumb ppl be like: thats fake..... Its always been this bad
They always been that dumb. It's not only missing education, but inability of perception as well.
Gorwing bullseye efect. Cities are getting denser, and the properties are appreciating in value. Regardless of climate change, this type of disaster would cause more damege because there is more to destroy.
This has been predicted since the mid-1800s, as popularised by Tyndall. We're paying for the profligacy of previous generations, who stuck their collective heads in the ground and continue to do so.
Look forward to your videos on "How I stopped using plastic, gasoline, and minerals".
Went from global warming to climate change...what will it be next...global chilling.
That would be the the next ice age
costs are going up or the dollar value is going down?
It is annoying that the narrative is followed. It is only the highest temperature since 1850 when it was the coldest it had been in the previous 10,000 years. Its not the hottest on record.
It is impossible to believe that significant climate change legislation has or will pass the Senate, in spite of what the White House may claim.
Drive less, fly less, WFH if you can, don't build a house where there was no house before, and make sure your company pays at least 75, 100, or $200 per ton for carbon offsets. Even then you will almost certainly need to increase your income taxes in order to pay for more flood walls, flood barriers across waterways, and floodgates.
Insurance company just use this as excuse to increase the price
Insurance is just a scam
That GDP loss is gonna be nothing compared to finding out what happens when a worldwide economy based on infinite growth meets the harsh realities of a finite world
It's gonna be beautiful. Maybe it's oversarcastic, but i lost any hope 20ys ago. Just waitin for this.
If you look at the data on how natural disasters have impacted us around the world for the last 100 years you will see that deaths have actually plummeted contrary to “climate change” propagandists. Also, total $ amounts related to property damage from storms have gone up, but only relative to the economic growth of the area that was hit. You would expect that if a certain area has twice as many buildings and gets hit by a storm, you’d have twice the property damage. Not because the storm was any worse, but because there are simply more buildings that could be damaged. In fact, property damage estimates are not even rising as quickly as economic growth which we can assume is because buildings built more recently are much more capable of surviving storms than older buildings. The building codes these days are very strict about ensuring that buildings can withstand natural disasters of all sorts versus buildings made 30, 50, or 100 years ago.
The problem is that these building codes generally do not have requirements to increase flood resistance. The structural members may remain standing due to more stringent codes protecting against wind and earthquake damage, but if the interior still gets flooded, then almost everything still needs to be replaced.
@@TheVonMatrices Only in the USA where the Federal Government underwrites ALL flood insurance.
Yeah. Taxpayers have refitted one Florida house 13 times. Suckers.
For sure, the deaths have plummeted is proof of no climate change. It’s not like over the last 100 years we’ve done things like bettering building codes, implementing weather warning systems etc.
Great post, financial and human impact of storms is in fact much lower in western countries.
It’s almost as if emergency services, high-speed communication and alert systems, predictive meteorology, etc. have all made significant improvements over the past century. It’s almost as if your statistic only applies to developed countries who have these advancements. 🤦♂️
How many billions in other years? You just threw a number, but didn't compare it to previous years or anything like that.
If only we knew about climate change decades ago
@christ griffin it’s sarcasm. And yes, it’s always changed, but colloquially, and in this video, when people refer to “climate change”, they’re referring to human-induced climate change which happens at a much faster rate than most natural drivers, making it very dangerous.
Stop charging your phone and safe the planet
Business as usual.🎩 The wealthiest people will be the last victims of this climate change, while poor people are already and massively diying from it.
Capitalism ? Privatizing profits and socializing losses.🧠
Orrrrrrr : As the value of currency goes down, cost of fixing things from natural disasters goes up. Also we’ve been having natural disasters for years. As population increases, more people naturally will be affected making the cost to go up…. But let’s not talk about that.. doesn’t fit the narrative
We've had "extreme weather events" for thousands of years. Throughout human history, there is an obsession with explaining and controlling the weather when weather is not predictable into the far future.
By that logic, modern life hasn't changed compared to ancient life since we've been living for millions of years.
Your other points don't even somewhat disprove the video, the only claim about change was in reference to growing amount of natural disasters.
None of this is true. Severity and frequency of natural disasters are down and have been for decades. Inflation and a buildup of infrastructure has much more property and more expensive property at risk than ever before. I am a property insurance underwriter and this is common knowledge in the industry.
"Severity and frequncy of natural disasters are down and have been for years."
2022 - 270 bill. $ damage worldwide
2021 - 320 bill $ damage ww, last five years are defined by high damage rates, expected to increase.
Hurricanes are on top, single events causing more damage (germany, ahrtal, 4x higher damage than highest until then).
Source: munich re, worlds largest reinsurer, reported in ZDF online, german television.
That home insurance cost rise is unsustainable if it’s in real dollars. It will not happen. The estimates are likely based on bad science or misunderstood studies.
Yeah, I've had enough of these stupid shorts now.
The problem is the cost of current renewables replacing fissile fuels is Trillions in excess of 30 Trillion to be carbon natural
That’s a much larger number than billions….
The issue is that this has a compounding effect over the years. So if we keep polluting, the amount of extreme heat/weather events will rise, and places near the equator become uninhabitable.
You know how fragile our supply chains/economy is right? When there was a shortage of microchips prices and waiting times rose for almost anything involving modern technology?
Now think about the economic misery caused by countries producing some of the most essential things like food, clothing or raw materials becoming borderline uninhabitable? Now that is gonna cripple the supply chain and economy, maybe irreplaceably.
@@taikurinhattu193 thanks for your reply. It’s a common misnomer that food production will drop with climate change rather all metrics has it increasing. Changing to renewables is actually much more harmful to the economies of developing countries.
I would highly recommend reading Bjorn Lomborgs book false alarm or Michael Schellenberger Apocalypse Never. They both go into detail on the actual expectation of climate change on economies and environments. They also detail that we are spending in the realms of 2 trillion so far but have not actually reduced emissions.
They are both great and easy reads and believe it or not both of the authors are well known environmentalists.
Your record is rather small, expand it to include the Medieval warm period, or the warmer Roman period, or the even warmer Minoan period, then you'll notice its been getting cooler since the Minoans.
Natural disasters aren't increasing in frequency or intensity and the rate at which people die from them is PLUMETTING.
They are being recorded and measured more accurately, which makes us think that they're more frequent and/or dangerous, see availability bias.
Climate change may cost a lot of money in today's term, but if one assumes continued economic growth at similar rates, it's a drop in the bucket compared to the nominal cost. It's been described as making us a few percentage points "poorer" than we would otherwise be. Which means we would be infinitely wealthier than we are today still.
Doomsday peddling does nothing but panic people into thinking it's the end of the world, when in reality most of us will probably be ok and those that won't be, could still have access to man-made solution to their problems, provided they aren't part of the world's poorest.
As always, it's the poorest of the poor that will suffer the most and it's unconscionable for rich westerners to tell them that they can't grow the same way we did, because that's condemning them to a dire future.
Excellent post I could not have put it better myself
The climate isn't changing as much as the populations of areas subject to natural disasters. For example hurricanes are much more costly not because of climate change but because the population on costal areas has exploded over the past few decades.
No. The climate catastrophes are getting worse. The science is there. Look up the effects of warmer waters on hurricanes.
@@Mirrale From the American Meteorlogical Society..."Growth in coastal population and regional wealth are the overwhelming drivers of observed increases in hurricane-related damage. As the population and wealth of the United States has increased in coastal locations, it has invariably led to the growth in exposure and vulnerability of coastal property along the U.S. Gulf and East Coasts. Unfortunately, the risks associated with more people and vulnerable exposure came to fruition in Texas and Florida during the 2017 season following the landfalls of Hurricanes Harvey and Irma. Total economic damage from those two storms exceeded $125 billion. Growth in coastal population and exposure is likely to continue in the future, and when hurricane landfalls do occur, this will likely lead to greater damage costs than previously seen. Such a statement is made recognizing that the vast scope of damage from hurricanes often highlights the effectiveness (or lack thereof) of building codes, flood maps, infrastructure, and insurance in at-risk communities."
Wth happened to your accent?
6th warmest year on record? Not even remotely close. When you exclude data points that don't support your foregone conclusion, you have a massivelt flawed study.
it's called weather.
Oh wow almost like capitalism collapses when dealing with long term issues
Total bollocks.
Bury your head in the sand. It's what your Republican Congressman and their commercial backers want you to do. Coward.
We can't argue with your Logic...
No it's not, lol.
@@Dimitris_Half most literate climate change denier
@@fedyx1544 climate doomer
As soon as global warming is mentioned, people's brains shut off.
More stuff on the same amount of land combined with inflation will ensure insurance claims costs will get higher.
it starts out with A LIE the hottest year ever is in the 40s.
Wrong
“The eight warmest years on record have now occurred since 2014, the scientists, from the European Union's Copernicus Climate Change Service, reported, and 2016 remains the hottest year ever.”
Fake news
💯🔥
All the while gas and electricity tripled in price here. But its now "green electricity"; they forgot to tell us how much going green would cost and who would pay that (me).
Gas tripled in price? I thought the non renewable limited resource would be going down in price! What is going on?
Gas triple the price? Probably because we relied too much on that "green energy", had we used only gas instead we would be paying...more..?
So more green energy then less reliance on these unreliable fossil fuels?
That’s the problem with current policy. Your electric bill is going up. Gas is much better than coal but it’s still a hydrocarbon. Cheap energy is an integral part of world wealth and prosperity.
Current policy has energy prices going up while effectively doing nothing to reduce human impact on the climate.
If you’re really poor it’s not about not been able to have your AC on it’s about not been able to eat….
But you still have no proof
No lroof of what exactly?
So, did the studies say how many natural disasters that would have been this year, if there was no "climate change?" Or are we attributing literally every natural disaster to climate change?
Even though I'm pretty sure there were still hurricanes and hot days and cold days before the industrial revolution. And earthquakes for that matter.
BS.
Lame 😒
If we all got rid of our cell phones we would probably lower the temp.
do it
yeah... bullshit they happened long before