About the Project

How much economic risk does the United States face from the impacts of climate change? The Risky Business initiative will help us find out.

Risky Business includes two core components:

An independent risk assessment will combine existing data on the current and potential impacts of climate change with original research that will quantify potential future costs. The results, to be released in the summer of 2014, will reveal the likely financial risk the United States faces from unmitigated climate change.

An engagement effort will target the economic sectors most at risk from a changing climate, and begin the process of helping leaders from across these sectors prepare a measured response to the risks they face. The engagement will be led by a risk committee composed of top national and regional leaders from across the American economic and political spectrum.

Risky Business is a joint initiative of Bloomberg Philanthropies, the Office of Hank Paulson, and Next Generation. Additional support for Risky Business was provided by the Skoll Global Threats Fund.


  • Michael R. Bloomberg, Former Mayor of New York City

    Michael R. Bloomberg is an entrepreneur and philanthropist who served three terms as Mayor of New York City, from 2002 through 2013. He began his career in 1966 with an entry-level job at Salomon Brothers, an investment firm. After being let go in 1981 he launched a real-time financial data service, Bloomberg LP, which grew into a global company that now has offices in 73 countries around the world. READ MORE

  • Hank Paulson, Former US Secretary of the Treasury

    Henry M. Paulson, Jr. is the Chairman of The Paulson Institute at the University of Chicago, a new kind of think tank that combines knowledge and action to promote sustainable economic growth and environmental preservation in both the United States and China. Previously, Paulson served under President George W. Bush as the 74th Secretary of the Treasury from July 2006 to January 2009. READ MORE

  • Tom Steyer, Retired Founder of Farallon Capital

    Tom Steyer is an active citizen. Before retiring from the private sector, he founded and was the Senior Managing Member of Farallon Capital Management. He also was a Managing Director and member of the Investment Committee at Hellman & Friedman. An avid Californian, Tom has worked to promote economic development and environmental protection in the state. READ MORE


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Check back for program updates, and watch for our full report in the summer of 2014.