The Cost Of Doing Nothing About Global Warming

A line of people waiting for food at a relief center in Bangladesh after Cyclone Sidr.

Photo: Saurabh Das / AP Photo

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The United Nations estimates that rich nations will spend $86 billion annually by 2015 aiding poor nations prepare for an increased toll from natural disasters wrought by global warming.

The lives of 2.6 billion people are at stake, according to the Associated Press.

The estimated expense doesn't include spending to help communities recover from catastrophic events.

Just this month, the world has pledged $550 million to aid Bangladesh in its recovery from Cyclone Sidr, which struck with Category 4 hurricane strength, killing more than 3,400 people and affecting millions. Bangladesh is among the nations most susceptible to damage from natural disasters, and sea level rise is likely to make flooding and storms more damaging.

In the Philippines last week, Typhoon Mitag caused an estimated $11 million in damages, killed 22 and affected half a million people. Some $672,000 is needed in Papua New Guinea, where 164 died and 143,000 were affected by Cyclone Guba Nov. 10.

The report highlights again that the cost of curbing greenhouse gas emissions will likely be less in the long run than reacting to the changes created by climate change.

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