The Costs of Climate Change

Abstract

This research paper talks about the economic costs of climate change, as well as the costs involved in responding to climate change with alternative fuels. This paper seeks to show that climate change, although seemingly costly in the short run, will both save future generations trillions of dollars and serve as a good economic opportunity. Scientists have long argued that the fate of humanity depends on a shift towards renewable energy. However, this paper will make clear that there is also an economic struggle. By embracing alternative fuels, we will not only lessen the danger and the frequency of these natural disasters but also strengthen the world's financial state. Although a common argument against responding to climate change is that it is too expensive to make the switch, this research shows that in the future, it will save millions of lives and trillions of dollars. The only question left for policymakers is whether they will grasp this energy source shift.