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New Federal Report Warns of Financial Havoc From Climate Change

WASHINGTON — A report commissioned by federal regulators overseeing the nation’s commodities markets has concluded that climate change threatens U.S. financial markets, as the costs of wildfires, storms, droughts and floods spread through insurance and mortgage markets, pension funds and other financial institutions.

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Damage from whopper hurricanes rising for many reasons

 ...America and the world are getting more frequent and bigger multibillion dollar tropical catastrophes like Hurricane Laura, which is menacing the U.S. Gulf Coast, because of a combination of increased coastal development, natural climate cycles, reductions in air pollution and man-made climate change, experts say.

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Underwater: Rising Seas, Chronic Floods, and the Implications for US Coastal Real Estate (2018)


CLICK HERE - STUDY - Union of Concerned Scientists - Underwater - Rising Seas, Chronic Floods, and the Implications for US Coastal Real Estate (28 page .PDF document)

ucsusa.org - June 2018

Sea levels are rising. Tides are inching higher. High-tide floods are becoming more frequent and reaching farther inland. And hundreds of US coastal communities will soon face chronic, disruptive flooding that directly affects people's homes, lives, and properties.

Yet property values in most coastal real estate markets do not currently reflect this risk. And most homeowners, communities, and investors are not aware of the financial losses they may soon face.

This analysis looks at what's at risk for US coastal real estate from sea level rise—and the challenges and choices we face now and in the decades to come.

(CLICK HERE - READ COMPLETE ARTICLE)

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Federal Report Says U.S. Impacts of Climate Change are Intensifying and Will Batter Economy

           

weather.com

CLICK HERE - FOURTH NATIONAL CLIMATE ASSESSMENT

bbc.com - November 23, 2018

Unchecked climate change will cost the US hundreds of billions of dollars and damage human health and quality of life, a US government report warns.

"Future risks from climate change depend... on decisions made today," the 4th National Climate Assessment says . . .

. . . But it says that projections of future catastrophe could change if society works to reduce greenhouse gas emissions and "to adapt to the changes that will occur".

CLICK HERE - READ COMPLETE ARTICLE - Climate change: Report warns of growing impact on US life

ALSO SEE RELATED ARTICLES WITHIN THE LINKS BELOW . . .

CLICK HERE - U.S. Should Expect Worsening Weather Disasters, New Government Climate Report Warns

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Humidity May Prove Breaking Point for Some Areas as Temperatures Rise, Says Study

           

Large swaths of the tropics and beyond may see crushing combinations of heat and humidity in coming decades, according to a new study.  Credit: Ethan Coffel

CLICK HERE - STUDY - Temperature and humidity based projections of a rapid rise in global heat stress exposure during the 21st century

sciencedaily.com - Source: The Earth Institute at Columbia University - December 22, 2017

Summary: Climate scientists say that killer heat waves will become increasingly prevalent in many regions as climate warms. However, most projections leave out a major factor that could worsen things: humidity, which can greatly magnify the effects of heat alone. Now, a new global study projects that in coming decades the effects of high humidity in many areas will dramatically increase.

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Credit Rating Firm Warns New Orleans, Coastal Cities to Prepare for Climate Change

           

An aerial view of the Industrial Canal after its levee failed during Hurricane Katrina. (NOLA.com | The Times-Picayune file photo)

nola.com - by Tristan Baurick - December 11, 2017

One of the country's largest credit rating agencies has put New Orleans and other coastal cities on notice: prepare for the effects of climate change or risk a hit on your credit score.

In a new report, Moody's Investors Service warned that it will evaluate efforts to adapt to sea level rise, flooding, severe storms and other impacts from rising global temperatures when setting its ratings for loans and bonds. The report mentions New Orleans and Louisiana several times as high risk areas.

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