Latest EPA report shows domestic benefits of international climate policy

The EPA's most recent report displayed some of the potential damages of climate change, as well as the massive financial rewards the United States could gain from doing something about it.

The report, a rigorously peer-reviewed scientific study, looks at two scenarios: one, where nothing is done to slow down carbon emissions, and one where, as a result of international efforts, the average global temperature by the year 2100 is kept no higher than two degrees Celsius (three-point-six degrees Fahrenheit) higher than pre-industrial levels.

According to the report, the health, infrastructure, electricity, water, agriculture and forestry industries would each incur billions of dollars of disaster-induced spending that can be avoided by taking precautionary measures.

While the report doesn't account for the expenses that would come from regulating greenhouse gas admissions, officials argue that they would pale in comparison to the loss of life and physical damage inflicted from not enacting them.

This "two degree plan" has been endorsed by the Obama administration, as well as by the entirety of the G7. They plan to bring it to the UN to finalize it by this December.

While many people are skeptical as to whether or not this policy can gain traction, or for that matter, be met, Gina McCarthy, the administrator of the EPA remains optimistic. "While we cannot know yet whether the president's strategy is going to be successful in showing U.S. leadership," she said, "there are significant signs that that leadership is being provided and recognized."

If the two degree plan gains heavy traction, companies may need to alter some of their business practices to help meet regulations. Environmental consultants can help analyze your companies policies and help you find a way to follow EPA regulations without sacrificing your profits.