Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • Charlie Kirk shot dead
  • Nepal protests
  • Russia-Poland tension
  • Israeli strikes in Qatar
  • Larry Ellison
  • Apple event
  • Sunjay Kapur inheritance row
fp-logo
Climate change, COVID-19 stoke wildfire's economic risk, Fed says
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • World
  • Climate change, COVID-19 stoke wildfire's economic risk, Fed says

Climate change, COVID-19 stoke wildfire's economic risk, Fed says

Reuters • July 14, 2020, 00:17:34 IST
Whatsapp Facebook Twitter

(Reuters) - Wildfires threaten the economy of the western United States to a greater extent than the rest of the country, and the coronavirus pandemic and climate change will only make that worse, according to research from the San Francisco Fed on Monday. Some 52% of economic output in Arizona, California, Idaho, Nevada, Oregon, Utah, and Washington originates in counties with elevated wildfire hazard, putting the economies of the region in jeopardy as wildfires become more frequent and more destructive, the researchers found

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
Climate change, COVID-19 stoke wildfire's economic risk, Fed says

Climate change, COVID-19 stoke wildfire’s economic risk, Fed says

(Reuters) - Wildfires threaten the economy of the western United States to a greater extent than the rest of the country, and the coronavirus pandemic and climate change will only make that worse, according to research from the San Francisco Fed on Monday.

Some 52% of economic output in Arizona, California, Idaho, Nevada, Oregon, Utah, and Washington originates in counties with elevated wildfire hazard, putting the economies of the region in jeopardy as wildfires become more frequent and more destructive, the researchers found. By 2040 that proportion will have risen to 56%, they estimate. By comparison, about 25% to 30% of the Southeast’s economy faces elevated wildfire risk.

STORY CONTINUES BELOW THIS AD

The states together account for a bit more than one-fifth of U.S. economic output.

“The portion of real output produced in (the counties of these states) with elevated exposure increases from $2.1 trillion in 2018 to $4.0 trillion in 2040 in the baseline scenario,” the researchers wrote in the regional Fed’s latest Economic Letter. The economic output under particular wildfire threat rises to $4.4 trillion under a more severe climate change scenario, they said.

More from World
US, China reach TikTok framework deal, Trump teases Friday call with Xi US, China reach TikTok framework deal, Trump teases Friday call with Xi ‘Bullying, economic coercion’: China slams Trump pressure on Europe for 100% tariff over Russian oil ‘Bullying, economic coercion’: China slams Trump pressure on Europe for 100% tariff over Russian oil

Wildfire risk is a combination of the likelihood of a big fire happening - which climate scientists have shown has been rising as the planet warms - and the economic destruction, in terms of lives and livelihoods destroyed that it could cause.

The coronavirus pandemic is increasing the latter risk because the fiscal pinch to states and local governments from the drop in sales tax and other revenue means cuts to wildfire suppression and prevention spending, the researchers said.

(Reporting by Ann Saphir; Editing by Tom Brown)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Tags
Reuters
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

French MPs call for social media ban for under-15s, digital curfew for teenagers

French MPs call for social media ban for under-15s, digital curfew for teenagers

A French committee suggests banning social media for kids under 15 and a nighttime digital curfew for teens 15-18. The report cites concerns about TikTok's effects on minors. President Macron backs the ban, akin to Australia's proposed law.

More Impact Shorts

Top Stories

Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment

Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment

From governance to tourism, how Gen-Z protests have damaged Nepal

From governance to tourism, how Gen-Z protests have damaged Nepal

Did Russia deliberately send drones into Poland’s airspace?

Did Russia deliberately send drones into Poland’s airspace?

Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike

Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike

Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment

Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment

From governance to tourism, how Gen-Z protests have damaged Nepal

From governance to tourism, how Gen-Z protests have damaged Nepal

Did Russia deliberately send drones into Poland’s airspace?

Did Russia deliberately send drones into Poland’s airspace?

Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike

Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike

Top Shows

Vantage Firstpost America Firstpost Africa First Sports

QUICK LINKS

  • Trump-Zelenskyy meeting
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV