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...Environment Group, assessed trends in the Arctic's cooling mechanisms and examined the financial consequences. The research team looked at the rate at which surfaces change from white ice and snow to ocean or exposed tundra, since darker surfaces absorb, rather than reflect, solar heat. According to the report, this shift and the increased methane emissions linked with melting permafrost currently slap us with annual losses in the range of $61 billion to $371 "resulting from such changes as heat waves and flooding." But the anticipated monetary fallout described in the study, expected to run deep into the trillions over...
...happens years from now should have less bearing on decisions made today. Inherent in this seemingly technical point is the question: what do we, citizens today, owe the people of tomorrow? Particularly since, once released, CO2 stays in the air for at least 100 years. (See TIME's special report about the Copenhagen Climate-Change Conference...
...will exceed $7 trillion," says Goodstein. "This means that every working adult will have to pay half of a year's salary just to cover the damage of the breakdown of the Arctic air conditioner." The higher figure used in the survey, based on the U.K.'s 2007 Stern report, yields significantly greater damage estimates...
...TIME's special report on the environment...
...Analysts predict that the Chinese President's decision to go to Washington will make the U.S. less inclined to adopt a confrontational stance on China's currency policy. "If April 15 comes and goes without a report, I don't think I'd be surprised," says Stephen Green, head of China research at Standard Chartered Bank in Shanghai. During their phone conversation Thursday, Hu told Obama that "healthy and stable economic and trade relations between China and the United States serve the interests of both countries," according to the state-run Xinhua News Agency. The report didn't say whether...