By Paul MacRae

A report written by top U.S. business magnates, including former New York mayor Michael Bloomberg, warns that damage from climate change will cost billions of dollars and urges businesses to take action to stop global warming (“Global warming is serious business,” June 27, by Shannon Corrigan).

The report, entitled Risky Business, predicts that over the next century many parts of the world will be seared by heat and coastal areas will be inundated by several feet of rising sea levels, all caused by humans and their carbon emissions. For example, the report suggests that by the end of the century temperatures in Hawaii could be 2.2°-4.4° Celsius higher than today, with sea levels almost four feet higher.

Human activities have been raising CO2 levels over the past century, from about 300 parts per million to 400 ppm today. However, even the Intergovernmental Panel on Climate Change (IPCC) admits in its latest report that, despite this increase in CO2, the planet has barely warmed since 1998.[1] The IPCC’s computer models predicted warming of at least third of a degree Celsius in that time.

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