Get the U.N. Out of the Climate Business

By Kenneth P. Green, Wall Street Journal

In the aftermath of the Copenhagen Climate conference, it is clear that the United Nations-driven process is a bust, and that any similar process requiring economic suicide and massive wealth transfers will go nowhere. It is long since time to drop this charade, take the question of climate change out of the hands of the U.N., and implement more reasonable policies.

Fostering the resilience of societies around the world in case climate disaster strikes would be a start. Central to this process is for governments to stop making things worse, as they do when they subsidize risk-taking.

One reason that predicted damages from rising sea-levels and more powerful storms are so high is because of the popularity of coastal locales for high-density business and upscale residential development. As a result, damages from extreme coastal weather events have been fantastically expensive. The damages from Hurricane Katrina for example, reached over $150 billion. The question, however, is why there was so much value that was so badly protected against completely predictable events? Why were levees and sea-walls so under-designed? Why were so many houses and businesses uninsured? As Charles Perrow observes in "The Next Catastrophe," "Even in areas known to be hazardous, only about 20% of homeowners purchase flood insurance, and less than 50% of businesses purchase flood and earthquake insurance in risky areas."