News Number of the Day Catastrophic Prognosis Adds Weight to Energy Incentives Number of the Day: The most relevant or interesting figure in personal finance By Diccon Hyatt Diccon Hyatt Diccon Hyatt has written hundreds of articles about how public policy and the economy intersect with personal finance, tracking all the latest dynamics affecting your money. Before joining The Balance, he covered business and community news for 17 years, including Princeton, New Jersey's high-tech Route 1 Corridor. learn about our editorial policies Published on November 8, 2021 Fact checked by Rebecca McClay Fact checked by Rebecca McClay Rebecca McClay is a financial content editor and writer specializing in personal finance and investing topics. For more than 15 years, she's produced money-related content for numerous publications such as TheStreet and MarketWatch, and financial services firms like TD Ameritrade and PNC Bank. She covers topics such as stock investing, budgeting, loans, and insurance, among others. learn about our editorial policies Share Tweet Pin Email That’s the percentage of climate scientists surveyed by the journal Nature who expect to see “catastrophic impacts” from climate change in their lifetimes and one reason why U.S. lawmakers are drafting legislation that would better incent households to switch their homes and cars to renewable energy. Democratic lawmakers drafting a $1.75 trillion government spending plan want to create or expand several programs to reduce greenhouse gas emissions responsible for global climate change. These include a tax credit allowing a middle-class family to save $12,500 on an American-made, union-built electric car and a subsidy to make it 30% less expensive to install rooftop solar panels on a home. President Joe Biden, who attended the COP26 U.N. climate summit in Britain last week, said those measures, if approved by Congress, would help the U.S. meet its goal of achieving net-zero carbon emissions by 2050. The journal sent surveys to the 233 living authors of a landmark report by the U.N. Intergovernmental Panel on Climate Change published this August, publishing the results from the 92 who responded last week. Climate change will lead to more extreme hot weather, more droughts, rising sea levels, more intense storms, and other potentially disastrous outcomes, according to the U.N.’s August report—all of which could cost the economy $1.7 trillion a year by 2025, if the warming trend continues. Have a question, comment, or story to share? You can reach Diccon at firstname.lastname@example.org. Was this page helpful? Thanks for your feedback! Tell us why! Other Submit Sources The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy. The White House. “President Biden Announces the Build Back Better Framework.” The White House. “Remarks by President Biden in Meeting on the Build Back Better World Initiative.” Nature. “Top Climate Scientists Are Sceptical That Nations Will Rein In Global Warming.” United Nations Intergovernmental Panel on Climate Change. ““Climate Change Widespread, Rapid and Intensifying.” Institute for Police Integrity. "Gauging Economic Consensus on Climate Change."