GAO Adds Destabilizing Climate To List Of Greatest Financial Risks Facing US, Notes Gov. Not Ready

WASHINGTON, Feb 15 2013 (IPS) - For the first time, a U.S. government auditor has added climate change to a list of issues that pose the greatest financial risk to the government and country. It is also warning that Washington is markedly unprepared to deal with the scope of the problem.

The admonitions, coming amidst a newly strengthened public discussion here on climate change, could offer an opportunity for some conservative lawmakers to re-engage with what has been one of the most fractious political issues of recent years.

“(T)he impacts and costliness of weather disasters will increase in significance as what are considered ‘rare’ events become more common and intense due to climate change,” a new report by the Government Accountability Office (GAO) warns. “However, the federal government is not well positioned to address this fiscal exposure.”

According to the GAO, the federal government’s primary financial watchdog, its “high risk” list currently includes 30 issues, covering concerns of efficiency, effectiveness or fraud, with a particular focus on defence and health systems. However, this year’s inclusion of the financial risk to the government posed by the effects of climate change has the possibility to outweigh much of the rest of the list combined.

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http://www.ipsnews.net/2013/02/climate-change-added-to-u-s-government-high-risk-list/