Normally unremarkable, but interesting that this is appearing under the "Future of Investors" column under Yahoo! Finance. Another sign that the business world is starting to wake up.
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Action Needed on Global Warning
by Jeremy Siegel Ph.D.
For years, I believed that “Global Warming” was an issue where the science was contradictory and the consequences were far enough in the future to have little or no impact on current markets.
Not anymore.
The reality of global warming is now accepted by virtually every scientist. And the economic consequences of this warming are going to impact our world much sooner than I had anticipated.
Some of the changes wrought by global warming are favorable. Warmer temperatures increase the growing seasons in Canada and Russia and reduce heating costs in northern climates. However, global warming also increases tropical storms and droughts and could disrupt the Gulf Stream that warms Europe. On balance, the above consequences are negative for the world economy, but not substantially so.
However, there is one consequence of global warming that could be absolutely catastrophic: a significant rise in sea levels due to the melting of the polar icecaps. ...
