Coastal Flooding 'May Cost $100,000 Billion a Year by 2100?
If global warming continues on its present ominous path, and if no significant adaptation measures are launched, then coastal flooding could be costing the planet's economies $100,000 billion a year by 2100.
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#1 Feb 13, 2014
Jochen Hinkel from the Global Climate Forum in Berlin and colleagues have compiled, for the first time, global simulation results on future flood damage to buildings and infrastructure on the world’s coastal flood plains.
“If we ignore this problem, the consequences will be dramatic,” says Hinkel.“Countries need to take action and invest in coastal protection measures, such as building or raising dykes, amongst other options.”
By 2100, global average sea level rise could be as low as 25 cms, or as high as 123 cms; between 0.2% and 4.6% of the world’s population could be affected by flooding each year; and losses could be as low as 0.3% or as high as 9.3% of global gross domestic product.
It doesn’t matter very much whether by the end of the century the losses hit the low end of these projections, or the high. They will always be huge.“Damages of this magnitude are very unlikely to be tolerated by society and adaptation will be widespread”, the authors warn.
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