Global warming is not a hoax to those who have to pay for it

pollutionYou may not want to believe in global warming, but the people who have to pay for the damage sure do.

Some uber-wealthy investors have enumerated a litany of economic risks posed by climate change in a new report titled “Risky Business: The Economic Risks of Climate Change In The United States.”

Among those sponsoring the report was Republican┬áHank Paulson, the former Goldman-Sachs head and Treasury secretary under George W. Bush. You know it’s getting hotter when Republicans start weighing in on climate change.

The report projects as much as $23 billion of Florida real estate will likely be under water by 2050. And that the annual cost of coastal storms along the Eastern Seaboard and the Gulf of Mexico will reach as much as $35 billion.

Click here to read my column in The Wall Street Journal Sunday.

You know who else believes in climate change? Insurance companies. Click here to read a piece I wrote for MarketWatch in 2011. Global warming is no hoax to them either.