Paulson, Bloomberg Agree Global Warming Is Risky Business

The U.S. economy faces losses that may run into the hundreds of billions of dollars this century as the changing climate erodes coasts and threatens agriculture, according to a report today by a bipartisan group of political and financial leaders.

The report from the Risky Business Project urges businesses and industrial companies to curb carbon emissions in an effort to slow global warming. The initiative was spearheaded by former U.S. Treasury Secretary Henry Paulson, former New York Mayor Michael Bloomberg and billionaire investor Tom Steyer.