GHG targets must be adhered to and the economics will become an advantage as the new generational horizon comes into view.

The climate is a paradigm shift. It is not temporary and will result in new economic futures that will benefit future generations, not the quick bubble and bust economies the world has gotten used to. 

June 26, 2018
By Paul Melia

Strong waves on the Irish coast during storms earlier this year

THE economic cost (click here) of sea and river flooding (click here) will treble unless climate change is tackled, a European Commission report has warned.

The impacts of river flooding will be most pronounced in Ireland and the UK if a business-as-usual model is adopted and global warming isn't tackled.

The Joint Research Centre's (JRC) 'Climate Impacts in Europe' report says there will be positive impacts, including a rise in tourism as people flee baking summer heat, and a rise in agricultural production – but economic damage from winter storms will cause crippling bills.

Flooding has resulted in insurers paying out almost €750m in claims since 2000.

The Office of Public Works said an extensive flood relief scheme would be ready for construction by the end of next year, but the JRC report suggests that further devastation will occur in other towns and cities if temperatures rise by 3.5C by the end of the century.

Even if policies aimed at mitigating against the worst affects are adapted, which could result in the EU's target of limiting temperature rise to 2C, major economic costs would arise....