Sunday, November 29, 2009

Sea Level Rise Could Cost Port Cities $28 Trillion

A new report warns that sea level rise could cost port cities more than $28 trillion:

A possible rise in sea levels by 0.5 meters by 2050 could put at risk more than $28 trillion worth of assets in the world's largest coastal cities, according to a report compiled for the insurance industry.

The value of infrastructure exposed in so-called "port mega-cities," urban conurbations with more than 10 million people, is just $3 trillion at present.

The rise in potential losses would be a result of expected greater urbanization and increased exposure of this greater population to catastrophic surge events occurring once every 100 years caused by rising sea levels and higher temperatures.

The report, released on Monday by WWF and financial services Allianz, concludes that the world's diverse regions and ecosystems are close to temperature thresholds -- or "tipping points."

I have a solution for those people who still suggest that global warming is only an environmental issue: a trip around the world to all the warming-impacted places we're reporting on today.

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