Russia’s Thawing Permafrost May Cost Economy $2.3 Billion a Year [Yahoo! Finance News]
MMC NOR NICKEL PJSC S/ADR (NILSY)
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Source: Yahoo! Finance News
Russia’s Thawing Permafrost May Cost Economy $2.3 Billion a Year ) -- Russia plans to pay more attention to the impact climate change is having on its vast permafrost area. Thawing of once permanently frozen ground covering more than half of Russia is putting buildings, pipelines and other infrastructure at risk of damage. With the Arctic warming twice as fast as the rest of the world, that’s a big problem. The economic loss is 50 billion to 150 billion rubles $2.3 billion) a year, said Alexander Krutikov, deputy minister for the Far East and Arctic development. “This problem needs to be addressed, because the amount of damage will grow every year,” Krutikov said in an interview. “The scale is very serious. The pipes explode, the piles collapse.” Krutikov’s comments are another sign that Russia, the world’s fourth-biggest emitter, is taking the effects of climate change more seriously. For most of his time in power, President Vladimir Putin has challenged the widely held assertion tha
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