The Citi Global Perspectives and Solutions thingie, part of Citibank, has done a study that you can read here. It says that addressing global warming makes economic sense. So, when those science deniers are out there denying climate change they are also denying arithmetic. Shame on them.
Citi Global Perspectives & Solutions (GPS), a division within Citibank (America’s third-largest bank), recently published a report looking at the economic costs and benefits of a low-carbon future. The report considered two scenarios: “Inaction,” which involves continuing on a business-as-usual path, and Action scenario which involves transitioning to a low-carbon energy mix.
One of the most interesting findings in the report is that the investment costs for the two scenarios are almost identical. In fact, because of savings due to reduced fuel costs and increased energy efficiency, the Action scenario is actually a bit cheaper than the Inaction scenario.
Go read Dana's writeup. There are flow charts and a pie diagram!
Those who will save money are not the same in the two scenarios. And politicians want to be elected now, not by the next generation in twenty years.
Just as a smart shopkeeper will work for sales today and for repeat business, a smart politician should work to keep his present constituents happy and also keep his party in good repute so that it will be able to win the votes of the next generation.
In other words, the long view pays off.