A report by the Government Accountability Office predicts climate change will cost U.S. agriculture up to $9.2 billion between 2020 and 2039 in lost crop yields.
The report also details how extreme weather events, including wildfires, has cost the government $350 billion over the last decade, when including crop and flood insurance costs.
In the long term, for 2080 through 2099, the annual sector-specific economic effects varied from a range of $12 billion in benefits to $53 billion in costs for the agriculture sector. The report was made available this week by the GAO. The report anticipates various regions of the U.S. will experience crop yield losses, increased road damage and changes in water supply and demand.
The GOA says the report recommends the White House uses the information to help identify significant climate risks facing the federal government and craft appropriate federal responses.