According to a recent assessment by the U.S. Department of Treasury, climate change can have a devastating effect on finances, especially in vulnerable places and among people who are already on the brink of financial hardship. The paper focuses on the financial risks posed by excessive heat, wildfires, and floods, such as job loss, rising energy bills, and decreased insurance affordability.
Appalachia, the Mississippi Delta, and states bordering Mexico are among the locations that are most likely to experience these effects. The paper makes suggestions for enhancing infrastructure, increasing financial resilience, and increasing community awareness of the financial hardships resulting from climate change.
To help them deal with the difficulties brought on by climate change, individuals can also increase their energy efficiency, make sure they have enough insurance, start paying their bills online, and take other actions to help them cope with the challenges brought on by climate change.
