Households can experience significant financial strain through pressures to income and expenses due to climate hazards, a report from the U.S. Department of Treasury shows.
The report, The Impact of Climate Change on American Household Finances, adds to the department’s work on broader issues around climate change and economic growth and stability. It examines the impacts of climate change on U.S. household finances, with a focus on households that may be most adversely affected.
The report explores the impacts of climate hazards that may harm people, property, resources and the environment.
“Climate hazards can cause widespread physical damage and force interruptions and closures of normal operations of businesses, governments, and other critical services,” the report states. “As a result,