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People Don’t Fear Climate Change Enough

Aug. 27 (Bloomberg) -- With respect to the science of climate change, many experts regard the Intergovernmental Panel on Climate Change as the world’s authoritative institution. A draft summary of its forthcoming report was leaked last week. It describes the panel’s growing confidence that climate change is real, that it is a result of human action, and that if the world continues on its current course, it will face exceedingly serious losses and threats (including a significant rise in sea levels by century’s end).

While the draft report states these conclusions with unprecedented conviction, they are broadly consistent with the panel’s judgments from the past two decades, which raises an obvious question: Why have so many nations (including China and the U.S., the world’s leading greenhouse-gas emitters) not done more in response?