Syndicate content

climage change

What do a Pacific Island fisher and a Wall Street banker have in common?

Nilar Chit Tun's picture

A: Both of them will be affected by the ongoing effects of climate change.
 
In less than 40 years from now the cost to the world's biggest coastal cities from flooding is expected to have risen to $1tn – 0.7% of the value of the entire world economy in 2012. Average global flood losses could rise from around $6 billion per year in 2005 to $60 to $63 billion per year by 2050, thanks to population and economic growth along the coasts and the multiplying effect of climate change-driven sea level rise. Coastal communities in the US were firmly reminded of what could happen with rising waters during Superstorm Sandy. The effects of global warming and climate change were no longer academic discussion points, but reality in the form of flooded subways in the heart of Manhattan.

Increasing Flood Risks Create Major Challenges for World’s Coastal Cities

Stéphane Hallegatte's picture

Increasing flood risks create a major political and institutional challenge for the world’s coastal cities as ambitious and proactive action at the local level over the next decades will be needed to avoid large-scale flood disasters. However, the implementation of flood risk management policies meets many obstacles. 

In a recent study written with colleagues Colin Green, Robert Nicholls and Jan Corfee-Morlot as part of an OECD project on urban vulnerability, we estimate how flood risks could change in the future in 136 coastal cities, in response to increasing population and wealth, local environmental change, and climate change. We find that because current flood defenses and urbanization patterns have been designed for past environmental conditions, even a moderate change in sea level is sufficient to make them inadequate, thus magnifying flood losses to catastrophic levels. If no action is taken to reduce flood vulnerability, most coastal cities would become inhospitable and dangerous places to live, with annual losses in excess of $1 trillion dollars.
 

For Water and non-Water Wonks: A World Water Day 2013 (not comprehensive) Reading List

Given that World Water Day, March 22, is not even underway in a large part of the world, at the time of this writing, the amount of World Water Day coverage is no small thing. Here is how World Water Day (eve) has unfolded across the World Bank’s social media and websites.