Eugene Linden at The Daily Beast suggests two moves to nudge US politicians into taking Climate change seriously:

  • stop blocking the market signals from the insurance industry and
  • the international community could impose tariffs on goods coming from nations that fail to address emissions.

Climate Change is Here, Ready or Not. So What Now?

Most importantly, we need leaders with the courage to steamroll the deniers and the vested interests. ... the U.S. and the rest of the world are going to have to act over the loud objections of vested interests just as the government took action on smoking over the objections of the tobacco lobby.

Since it’s open to question whether the present Congress would have the courage to take on the tobacco lobby if the link between smoking and cancer first arose today, how can we expect them to act against the vastly richer fossil fuel lobby? How can a political system that could not institute real reform in the financial system even after near collapse in 2008 be expected to act rapidly to impose new taxes ... during a time of weak economic growth? The answer is obvious: it can’t—at least not without overwhelming pressure from powerful groups that can’t be bought off or befuddled.

Therein lies the faintest glimmer of hope. With $5 trillion of invested capital, the American insurance industry has as much economic clout as the fossil fuel industry. Insurers lose money if they under-price the myriad risks of climate change. If they can’t raise prices to match the estimated risk, they simply pull out of the market. This happened in Florida where a series of governors stymied insurers’ requests for rate increases to adjust for increased risks of hurricane damage. The insurers said sayonara leaving the state to backstop homeowners who insisted on living in harm’s way. Thus we have the delicious irony of Florida having a free-market champion and climate change denier governor, Rick Scott, presiding over the socialization of climate change risk. A study by the non-profit CERES estimates that government—meaning us the taxpayers’—exposure to climate-related risk has increased fifteen fold since 1990 as private insurers have pulled back and extreme events increased. If government stopped smothering the market signals coming from the insurance market, both adaptation and calls for action on dealing with global warming would accelerate enormously.

Outside the U.S., developed nations take climate change seriously, and if the international community started imposing tariffs on goods coming from nations that fail to address emissions, that would get the attention of Congress. [emphasis mine]


Tags: Climate Change, climate-related risk, insurance industry

Views: 3

Support Atheist Nexus

Donate Today

Donate

 

Help Nexus When You Buy From Amazon

Amazon

MJ

© 2014   Atheist Nexus. All rights reserved. Admin: Richard Haynes.

Badges  |  Report an Issue  |  Terms of Service