GAO Climate Change Study Recommends Federal Actions to Reduce Potential Economic Impacts

The U.S. General Accountability Office (GAO) has published a report on the findings of its study entitled, “Climate Change: Information on Potential Economic Effects Could Help Guide Federal Efforts to Reduce Fiscal Exposure.” The GAO report examines:  methods used to estimate the potential economic effects of climate change in the US; what is known about these effects; and the extent to which information about these effects could inform efforts to manage climate risks across the federal government.
The GAO study included reviews of other studies, interviews with experts, and a comparison of federal efforts to manage climate risks with leading practices for risk management and economic analysis. EPA’s “Climate Change Impacts and Risks Analysis” project that looks at six sectors:  health, infrastructure (including water infrastructure), electricity, water resources (and supply), agriculture and forestry, and ecosystems, was one of two national studies used for the report.
Based on the study findings, GAO recommends that the appropriate entities within the Executive Office of the President (EOP), including the Office of Science and Technology Policy, use information on potential economic effects to help identify significant climate risks and craft appropriate federal responses. To view the report, visit the GAO website.