The Coming Climate Crash is From the Opinion Pages of the New York Times, June 21, 2014
The opinions are those of the author, Henry M. Paulson Jr., chairman of the Paulson Institute at the University of Chicago and secretary of the Treasury from July 2006 to January 2009
Millions suffered with the crash of 2008. Many still do. Much of this was the result of mismanagement and ignoring the warning signs.
We’re making the same mistake today with climate change. We’re staring down a climate bubble that poses enormous risks to both our environment and economy. The warning signs are clear and growing more urgent as the risks go unchecked.
This is a crisis we can’t afford to ignore. I feel as if I’m watching as we fly in slow motion on a collision course toward a giant mountain. We can see the crash coming, and yet we’re sitting on our hands rather than altering course.
We need to act now, even though there is much disagreement, including from members of my own Republican Party, on how to address this issue while remaining economically competitive. They’re right to consider the economic implications. But we must not lose sight of the profound economic risks of doing nothing.