Slowing global warming would save piles of money

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.

Dana Nuccitelli, author of Climatology versus Pseudoscience and Guardian Blogger, wrote up the report at Skeptical Science:

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!