From Dow Jones & Company:

Summary:

2023 was officially the hottest year on record, with global temperatures rising to a new peak. This resulted in higher utility bills and home-insurance costs for many households. The average global temperature in 2023 was 14.98 degrees Celsius, with July and August being the warmest two months on record. For lower-income families, the rising costs hit their household budgets harder than higher-income households. The federal government provided $6 billion in assistance to households to pay for their energy costs in 2023. Additionally, insurance costs are rising due to increased danger that homes face amid climate change. The cost of generating electricity has also increased over the past years. Experts stress the importance of mitigating climate change, highlighting the need to decarbonize the economy to prepare for the future.

Source: https://climate.copernicus.eu/copernicus-2023-hottest-year-record?mod=article_inline



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