Coastal city flooding ‘could cost more than £600bn a year’
Miami, New York and New Orleans in the United States, and Guangzhou in China are together expected to shoulder 43 per cent of the burden
Monday 19 August 2013
Flooding of major coastal cities could cost the world economy more than £600bn a year by 2050, say scientists.
Three cities in the US – Miami, New York and New Orleans – and Guangzhou in China are together expected to shoulder 43 per cent of the burden. Other cities facing the highest flood losses in 2050 included Mumbai, Jakarta, Boston, Bangkok and Abidjan, while in Europe, the cities of Marseille, Naples and Athens were also at risk.
The loss estimate is based on projections of climate change, land subsidence and urban growth in coastal centres. The researchers based their predictions on data from 136 of the largest coastal urban settlements around the world.
They found that socio-economic changes alone were likely to raise the cost of flood damage from about £4bn in 2005 to £33bn in 2050.
Adding the effects of climate change and subsidence brought total losses to an “unacceptable” one trillion US dollars, or £639bn.
The scientists, writing in Nature Climate Change and led by economist Stephane Hallegatte, said: “As illustrated by the recent landfall of hurricane Sandy on the east coast of the United States, there is a need to prepare at the local, national and international level for larger floods and the disasters that ensure.”
Climate change increases flooding risk both by raising sea level and triggering more frequent and powerful storms. Subsidence can result from the removal of groundwater and compression of soil beneath cities, causing land to sink below sea level.
Apple agrees deal with Visa on contactless payments
- 1 Half of young women unable to ‘locate vagina’ and 65% find it difficult to say the word
- 2 Perez Hilton apologises for Jennifer Lawrence naked photo leak
- 3 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 4 Mexican woman becomes world’s 'oldest person' at 127
- 5 Jennifer Lawrence 'naked sex video' will be leaked threatens 4Chan celebrity photo hacker
iPhone 6 'hidden code' could indicate sharper screens or bigger phones
Perez Hilton apologises for Jennifer Lawrence naked photo leak
Ariana Grande nude photos leak: 'These are completely fake' say singer's representatives
A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
Kate Upton nude pictures leak: Model's representatives 'looking into' authenticity of naked images
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
£40000 - £50000 per annum + benefits+bonus+package: Harrington Starr: SQL Impl...
£45000 - £55000 per annum + Benefits + Bonus: Harrington Starr: SQL Technical ...
£85000 per annum: Harrington Starr: Head of IT (Windows, Server, VMware, SAN, ...
£55000 - £60000 per annum + Benefits + Bonus: Harrington Starr: Lead C# Develo...