Heat Wave Related Climate Changes To Impact The US Economy Over Long Term

by | May 29, 2024 | Daily News, Environmental News

Home » Environmental News » Heat Wave Related Climate Changes To Impact The US Economy Over Long Term

With climate change intensifying, the United States faces more frequent, severe, and widespread heat waves. As per some latest reports, climate changes is to impact the US economy severely. The Atlantic Council’s Adrienne Arsht-Rockefeller Foundation Resilience Center’s report revealed this.

They came up with the report with analysis by Vivid Economics. Their report delves into the long-term impacts of this phenomenon. The report highlights the current and future economic burdens of extreme heat on the nation.

Heat Wave Related Climate Changes To Impact The US Economy Over Long Term

The report reveals that extreme heat is already costing the U.S. economy $100 billion annually. This figure, which focuses solely on worker productivity losses, is considered conservative. By 2030, losses are expected to rise to $200 billion, reaching $500 billion by 2050.

These estimates do not account for other factors like tourism, infrastructure damage, healthcare, and energy costs. Extreme heat affects more than 60% of U.S. counties, with significant economic losses due to heat stress on workers.

Only nine counties, all in Alaska, are exempt from these losses. Black and Hispanic workers are disproportionately affected, reflecting broader social and racial inequities.

Agriculture is particularly vulnerable to extreme heat. The report highlights the severe impact on crop yields, especially corn, the most widely produced crop in the U.S. Currently, heat reduces corn revenue by $720 million annually. This figure is projected to grow to $1.7 billion by 2030.

The decline in crop yields could lead to farm closures and higher prices for food and livestock feed. It can also result in global repercussions given that the U.S. is a major corn exporter.

States like Texas, Mississippi, and Alabama are already facing substantial heat-related economic losses. They are expected to see the greatest increases in these losses over the next decade. These states suffer from a combination of high heat, humidity, and industries particularly exposed to these conditions.

Extreme heat significantly affects worker health. Occupational injuries due to heat currently stand at 120,000 per year. It’s projected to rise to nearly 450,000 by 2050. Hot days increase workplace injuries from falls, slips, and trips.

Workers become more fatigued, slowing down and making mistakes that can lead to injuries or even death. Heat is also a leading cause of mortality in the U.S. Presently, over 8,500 deaths annually are linked to daily temperatures above 90 degrees Fahrenheit.

These numbers are expected to soar to 59,000 deaths per year by 2050 if current trends continue. The highest mortality rates are in the hottest regions of the country.

The report stresses the urgent need for action to address these heat-related challenges. Policymakers and investors must consider the quantitative evidence presented.

They need to implement solutions to mitigate the impacts of extreme heat. This includes closing data gaps, improving heat resilience in vulnerable regions, and addressing racial and economic disparities.

As climate changes are to impact the US economy, the U.S. should better prepare for the problem. They can do this by acting swiftly and collectively. This way they can mitigate the devastating effects of extreme heat on its economy and society. The stakes are high, and the time for action is now.

Also Read: USA To Face Extreme Heatwave In The Coming Weeks

Author

  • Sarah Tancredi

    Sarah Tancredi is an experienced journalist and news reporter specializing in environmental and climate crisis issues. With a deep passion for the planet and a commitment to raising awareness about pressing environmental challenges, Sarah has dedicated her career to informing the public and promoting sustainable solutions. She strives to inspire individuals, communities, and policymakers to take action to safeguard our planet for future generations.

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