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GAO-23-106362 1 (2023-06-20)

handle is hein.gao/gaooyf0001 and id is 1 raw text is: U.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 June 20, 2023 The Honorable Maria Cantwell Chair Committee on Commerce, Science, and Transportation United States Senate The Honorable Susan M. Collins Vice Chair Committee on Appropriations United States Senate Climate Change: Summary of GAO's Work on Federal Climate Resilience Projects Limiting the Federal Government's Fiscal Exposure by Better Managing Climate Change Risks has been on GAO's High Risk List since 2013.1 The federal government has made some progress to limit federal fiscal exposure to climate change since then, but significant work remains. Specifically, the federal government can enhance its climate resilience efforts- planning and preparing for climate hazards now to reduce potential future losses-to help limit federal fiscal exposure and the need to take far more costly actions in the future. You asked us to review information on the net economic costs of climate change to the federal government, to recommend how the federal government could fill gaps in localized economic cost and benefit data, and to provide information on how Congress could establish an organizational arrangement to prioritize federal climate resilience investments. As a first step toward a broader effort, we are providing in enclosure 1 a summary of our related published work and reports on climate resilience and the status of relevant recommendations we made to federal agencies and matters for congressional consideration. In response to your request, we also have ongoing work to examine the full range of these issues, including additional analysis of climate economics information available to characterize federal climate-related fiscal exposures. The Council on Environmental Quality (CEQ), Office of Management and Budget (OMB), and Office of Science and Technology Policy (OSTP) within the Executive Office of the President provided technical comments, which we incorporated in the enclosure, as appropriate. As agreed with your offices, unless you publicly announce the contents of this report earlier, we plan no further distribution until 30 days from the report date. At that time, we will send copies of this report and enclosure to the appropriate congressional committees, the Chair of CEQ, the 1GAO's High-Risk List identifies government operations that are vulnerable to fraud, waste, abuse or mismanagement, or in need of transformation. See GAO, High-Risk Series: Efforts Made to Achieve Progress Need to Be Maintained and Expanded to Fully Address All Areas, GAO-23-106203 (Washington, D.C.: April 2023). GAO-23-106362 Climate Economics Page 1

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