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Babies born this year face a $500,000 climate bill

A street sign in a residential neighborhood says “Fire Danger Today” with an arrow point to “extreme”
A sign warns of elevated fire danger in the Oakland Hill area of Oakland, California, on Thursday, October 29th, 2020. | Photo by Philip Pacheco / Bloomberg via Getty Images

Hate to break it to you, baby — but if you were born in the US this year, climate change could wind up costing you around $500,000 over the course of your lifetime. That’s according to a new study commissioned by Consumer Reports and conducted by consulting firm ICF.

The study counts up higher bills for climate-related calamities that drive up housing, food, and healthcare costs, for example. On top of that, there’s the prospect of higher taxes and lost income over the years in a warming world.

While there’s a lot of uncertainty built into the study, it’s an attempt at breaking down all the big and little ways that climate change can affect daily life. Each stifling heatwave, flooded road, and downed power line costs consumers…

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