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Fighting Climate Change will not be a Walk in the Park

Contains modified Copernicus Sentinel data 2023, CC BY 2.0 , via Wikimedia Commons

It is obviously difficult to assess the cost of human migration that climate change will cause. Experts are more comfortable when it comes to assessing the resulting costs for buildings and businesses. That said, it is already widely accepted that in many parts of the world climate change will have a huge economic cost. And this implies considerable investments to try to control the most expected effects of this upheaval in the climate: droughts, floods, agricultural losses, rising sea levels due to melting ice and of course massive migrations of people. According to the International Energy Agency (IEA) the cost of getting global warming under control will hit 20 trillion (US$) by 2030. Many governments and the most important insurance companies know these figures and share the same concern. And it should be noted that this already exorbitant cost could be revised upward if we are not able to keep temperature increases at maximum 2°C by 2100. However, we must not be defeatist and claim that it is already too late to act. On the contrary it is essential that governments, companies and individuals make massive investments in green technologies and low-carbon renewable energy sources. Another essential point will be to set up an insurance system capable of dealing with all these natural disasters and their consequences on the human habitat. These natural disasters have already cost insurance companies US$ 50 billion in the first half of 2023 (Re. Stone B.G.). But it must also be remembered that the forest fires in Greece and in Canada had catastrophic consequences on the fauna and flora. The multiplication of disasters due to climate change is already a reality. We must therefore act now and immediately with colossal means to meet this major challenge. What is obvious today is that it is impossible to stand idly by when our planet is collapsing.

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