The Balance: Economic Impact of Rising Sea Levels

Sea levels are rising, and 25 percent of the rise since 1880 has occurred during the last two decades. An increase of a few inches may not seem dramatic, but the economic impacts are expected to be immense. “Higher levels will affect the eight of the world's largest cities that are near a coast,” reports Kimberly Amadeo for the Balance. Millions in coastal communities, especially in emerging economies, will have little choice but to migrate. Saltwater will contaminate nearby freshwater supplies including aquifers, farms and habitats. Amadeo describes the threat of flooding in major cities from Miami to Jakarata as well as the preparations being made including raised roads and infrastructure like pumps and desalination plants. “The only permanent solution is to slow or reverse global warming,” Amadeo explains. “The amount of greenhouse gases emitted into the earth's atmosphere need to be reduced or eliminated…. Once limits are firmly set, carbon emissions trading can reward businesses that adhere to the cap. Carbon taxes can punish those that do not.” – YaleGlobal