Thursday, August 18, 2022
HomeMiddle ColumnReport: Millennials could lose trillions in lifetime income because of 'climate change'

Report: Millennials could lose trillions in lifetime income because of ‘climate change’

-

Millennials could lose trillions in lifetime income because of climate change

The Blue Cut wildfire burns housings and trees near San Bernardino, California, Aug. 16, 2016.

The Blue Cut wildfire burns housings and trees near San Bernardino, California, Aug. 16, 2016.

IMAGE: RINGO CHIU/AFP/GETTY IMAGES

Americans in their 20s and 30s could lose trillions of dollars in potential lifetime earnings as climate change disrupts the global economy and weakens U.S. productivity, according to a new report by NextGen Climate said.

If countries fail to reduce greenhouse gas emissions and limit the amount and pace of global warming, a 21-year-old college graduate today could lose $126,000 in lifetime wages and $187,000 in long-term savings and investments, the report found.

This would outrank the lost income due to student debt or wage stagnation.

As an entire generation, U.S. millennials — all75.4 million of them — could lose nearly $8.8 trillion in lifetime income without climate action, NextGen said. Those losses could keep climbing for the children of millennials and beyond.

“Global warming may very well be the biggest threat over the lifetime of a single generation,” Tom Steyer, the billionaire liberal climate activist and founding president of NextGen, told reporters Monday on a press call. 

- Advertisment -

Related Articles

Biden Climate and Environment Deputy Director Sanctioned for Misconduct

Biden's Deputy Director for Climate and Environment Jane Lubchenco has been sanctioned by the National Academy of Sciences, over a code of conduct violation.

The Science Was Just as “Settled” 110 Years Ago as It Is Today… Except for the Bits in the Middle

Guest “historical climastrology” by David Middleton Nothing funnier than smarmy academics… For 110 years, climate change has been in the news. Are we finally...

Elon Musk Offers Chinese Censors his Vision of Clean Energy, Space Launch & Brain Computer Links

According to Breitbart, Elon Musk's article was published in China Cyberspace, the magazine run the the repressive Chinese internet censorship and regulation agency.