The journey of a thousand miles begins with one step: in owning up to the present and the future of the habitability of the planet for all life forms. There appears to be a degree of agreement on the symptoms though the causes – man-made or otherwise – continue to be intensely debated. Climate scientists and activists refer to catastrophic outcomes – temperature increases in the range of 7 or 8 or even 10°C by the year 2100. Given the present state of play, it is difficult, mildly put, to estimate the probabilities of such large temperature increases in the decades to come. Assessing the net impact from such temperature increases or rising sea levels is near impossible. The potential economic impact of the feared changes in natural ecosystems treads further into the realm of conjecture: it could take the form of lower GDP levels, lower GDP growth levels, lower additions to capital stock, lower productivity of capital stock, lower utility from consumption, or a combination thereof. Additionally, economic impact could include health and social impacts as well and could combine with other possible incidents of disease outbreaks, natural calamities, etc. Society is left to strike a balance between abatement and adaptation, on the one hand, and on cutting back on consumption at the present or at some future date, on the other.