@patwater

🚏🌪️ The US is spending $1 trillion a year on climate damage A new analysis from Bloomberg reveals that the US spent $1 trillion—a full 3% of GDP—on “disaster recovery and other climate-related needs” in the 12 months from May 2024 to May ‘25. Skyrocketing insurance costs (which have doubled since 2017), power outages, and post-disaster repair are major drivers. (Interestingly, scientists estimate that many geoengineering schemes would cost just a few billion dollars a year, which makes one wonder whether a single insurer or country could run a geoengineering project that benefits everyone and still make a profit individually.)

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