Sunday, August 18, 2013

Future flood losses in major coastal cities

Source: Nature via Vice Motherboard

With climate change and subsidence, present protection will need to be upgraded to avoid unacceptable losses of US$1 trillion or more per year. Even if adaptation investments maintain constant flood probability, subsidence and sea-level rise will increase global flood losses to US$60–63 billion per year in 2050. To maintain present flood risk, adaptation will need to reduce flood probabilities below present values. In this case, the magnitude of losses when floods do occur would increase, often by more than 50%, making it critical to also prepare for larger disasters than we experience today. The analysis identifies the cities that seem most vulnerable to these trends, that is, where the largest increase in losses can be expected.

Right now, global loses due to flooding run about $6 billion per year, hitting primarily four cities: Miami, New York, and New Orleans in the United States, and Guangzhou in China. Together those four pay out just under half of the yearly global total.

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