If you had a 10% of facing a flood or getting into a fatal car accident, you'd make sure you bought first-rate insurance coverage. That's what our guest Gernot Wagner says we should do about climate change.
Science tells us that if we do nothing, there is the risk of a global catastrophe. We hear the argument for climate insurance. Gernot is the co-author of "Climate Shock - The Economic Consequences of a Hotter Planet," and lead senior scientist at the Environmental Defense Fund.
Even if climate skeptics are right and the risk of global warming is small, that does not eliminate the need to plan for an extreme emergency. Gernot Wagner makes the case for pricing carbon as a way of boosting the incentives for energy efficiency. "Unless we act, we will experience major disruptions. We already are experiencing them," says Gernot. Our interview also looks the revolution in solar energy and ocean damage caused by rising levels of carbon dioxide.
For more information on what you can do to help: https://www.edf.org/action