Goldman Sachs released a 34-page analysis of the effects of climate change. And the results are terrifying

Goldman Sachs this month released a report on the effects of climate change on cities around the world, and it makes for grim reading.

Goldman Sachs report on climate change makes for grim reading.

The bank's Global Markets Institute, led by Amanda Hindlian, warned of significant risks to the world's largest cities, which are especially vulnerable to more frequent storms, higher temperatures, rising sea levels, and storm surges.

"Cities generate roughly 80% of global GDP and are home to more than half of the world's population today, a share that the United Nations projects will reach two-thirds by 2050," the report said. About 40% of the population lives within 100 kilometers of a coast, and one in 10 people live in areas less than 10 meters above sea level, it said.

Read the story from the MarketsInsider by Yusaf Kahan - “Goldman Sachs released a 34-page analysis of the effects of climate change. And the results are terrifying.”

Climate Change Will Cost Us Even More Than We Think

For some time now it has been clear that the effects of climate change are appearing faster than scientists anticipated. Now it turns out that there is another form of underestimation as bad or worse than the scientific one: the underestimating by economists of the costs.

Mike McQuade.

The result of this failure by economists is that world leaders understand neither the magnitude of the risks to lives and livelihoods, nor the urgency of action. How and why this has occurred is explained in a recent report by scientists and economists at the London School of Economics and Political Science, the Potsdam Institute for Climate Impact Research and the Earth Institute at Columbia University.

One reason is obvious: Since climate scientists have been underestimating the rate of climate change and the severity of its effects, then economists will necessarily underestimate their costs. 

Read the opinion piece from The New York Times by Naomi Oreskes and Nicholas Stern - “Climate Change Will Cost Us Even More Than We Think.”

Is the Pacific island nation of Tuvalu growing, and not sinking, as Craig Kelly says?

Liberal MP and climate sceptic Craig Kelly made headlines in November when he was caught on tape mocking "lefties" for exaggerating the effects of climate change.

Coalition backbencher, Craig Kelly, says Pacific
island nations are growing rather than shrinking,

Speaking at a local party event, audio of which was leaked to the Guardian, Mr Kelly set out to debunk several justifications for climate change action, including the argument that Tuvalu, the Pacific island nation, was slipping beneath the sea.

Read the ABC News factcheck story - “Is the Pacific island nation of Tuvalu growing, and not sinking, as Craig Kelly says?”