GAO Releases Report on Fiscal Impact of Climate Change to Federal Facilities
This GAO report, Opportunities to Reduce Federal Fiscal Exposures Through Greater Resilience to Climate Change and Extreme Weather, release the results of a GAO study concerning the impact of climate change and extreme weather on federal facilities. The primary finding was that climate change and related extreme weather impacts on infrastructure and federal lands increase fiscal exposures that the federal budget does not fully reflect. Investing in resilience--actions to reduce potential future losses rather than waiting for an event to occur and paying for recovery afterward--can reduce the potential impacts of climate-related events. Implementing resilience measures creates additional up-front costs but could also confer benefits, such as a reduction in future damages from climate-related events.