Who should pay for risky business?

Published: Thursday, Jun. 26, 2014 - 3:06 pm
Last Modified: Saturday, Jun. 28, 2014 - 7:18 pm

Re "Report tallies economic toll of global warming"(Page A5, June 24): Bipartisan support for business leaders to take global warming seriously was portrayed in the newly released report, aptly named, "Risky Business." There was agreement among three former treasury secretaries, two were Republicans who served Presidents Nixon, Reagan and George W. Bush, that businesses need to take responsibility for their carbon emissions.

The true cost of business includes the cost of the effects of climate change, including annual property losses from hurricanes and other coastal storms of $35 billion, a decline in crop yields of 14 percent, costing farmers tens of billions of dollars, etc. These costs from climate change are expected in the United States over the next 25 years, according to this report. The price tag could soar to hundreds of billions by 2100.

This is a bipartisan issue. We need to let our current legislators know that carbon tax and dividend legislation is needed now.

-- Eileen Heinrich, Sacramento

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