WASHINGTON, Oct 1 (Reuters) - Former U.S. Treasury Secretary
Henry Paulson and New York City Mayor Michael Bloomberg are
sponsoring a study of how climate change will affect the United
States and what that disruption will cost.
The true price of deadly storms, prolonged drought and other
extreme weather that most scientists believe is climate change
brought about by human actions is unknown. That knowledge could
aid business and government leaders trying to respond to the
changes, the men said in a video statement announcing the study.
"I believe the ... study will be a catalyst for action,"
Paulson said, referring to the examination of climate impacts
around the country. Paulson and Bloomberg are lending their
names and financial support to the roughly $1.2 million analysis
due to be released in June that will tally costs from around the
Carbon dioxide and other greenhouse gasses from smokestacks,
tailpipes and factories are among the pollutants that should be
curtailed to mitigate climate change, according to a report from
the United Nations last month.
The impacts of a warming planet will vary over geography and
worsen over generations so it is important that officials try to
anticipate those risks now, Paulson said.
"As a former banker and Treasury Secretary, I've learned
that you can't always see the extent of a looming crisis before
it hits with full force," said Paulson, who helped lead the
United States during the onset of the global financial shock in
Tom Steyer, a billionaire former hedge fund investor and
Democratic fundraiser who backs a campaign to reject the
Keystone XL oil sands pipeline, will also support the study.
Superstorm Sandy that blasted the East Coast last year and
wildfires that have recently devastated the West are among the
phenomenon that might have a climate change component and
policymakers need to understand the costs of future risks as
they brace for the worst impacts, said officials behind the