Obama: We can save lives and money by addressing climate change

The release of a major report detailing the ways climate change is already impacting the nation should compel Americans that it's time to respond to the crisis, President Obama said Tuesday.

"We'll end up saving money and lives in the long term," Mr. Obama said in an interview with Megan Glaros, a WBBM meteorologist on assignment for "CBS This Morning."

"I think that's something most Americans understand," he added.

The National Climate Assessment presents evidence that the nation is getting warmer and illustrates the way climate change is effecting every region in the country, as well as various economic sectors. It also makes the case that civic leaders have the opportunity to limit the damage climate change will cause and seize the opportunities it presents

"There are things we can do about it, but it's only going to happen if the American people and people around the world take the challenges seriously," Mr. Obama said. "We're going to have to do more, and that should be a bipartisan issue."

The president, however, did not answer Glaros' question about whether the report has given him any more insight into what to do about the pending construction of the Keystone XL pipeline. The construction of the oil pipeline has become a political flashpoint, but the project does have bipartisan support from Republicans and politically vulnerable Democrats from states with significant energy sectors.