WHEN Superstorm Sandy roared ashore in late October and the lights of lower Manhattan went out, New Yorkers were given a stark vision of a possible future. Climate-change science is still a realm of great uncertainty but there is consensus that the planet is warming dangerously and that people are to blame. A recent report commissioned by the World Bank warned that the world is on track to have a global mean temperature that is 4°C above pre-industrial levels by 2100. If so, sea levels could rise by between half a metre and a metre by the end of the century, threatening hundreds of millions of people in coastal cities. Other regions would face the threats of droughts, bigger storms and changing rainfall patterns. That entails not just human costs but economic ones, too.

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