If sea levels do rise, well it's not if they do, they will, it's just a matter of when and where. Anyhow, when sea levels rise, and they rise to these proportions, this will create economic turmoil worldwide.
Let's break it down:
- England
- London- this is probably the one that would hurt the most, in England, if something devastating occurs to this city. For starters, like New York City it i
s one of the finance meccas of the world, and considered an important city on a world wide scale.
- New York
- For New York, most of NYC would be flooded leading probably most, if not all, of its more than 8 million citizens to flee, causing turmoil to the places that would receive them. NYC has always been the center of everything from fashion to business and to not have it around would impact the world as a whole.
- California
- In California, cities such as San Francisco, would be flooded and in Southern California, Long Beach, home to the ports, would be flooded as well, causing financial hardships to all those who depended on shipments through those ports.
Just from these three places I would estimate the financial loss to be in the billions if not more due to the fact that there millions of people living there, businesses, banks, universities, retail centers, and airports, just to name a few. All these places have people working for them and this would signify unemployment for them, thus leading to a faltering economy.
Financial Losses from Global Warming-
And apart from financial losses in regards to sea levels rising, there are also financial losses due to climate change.
For starters, if we don't start to do anything to slow down the carbon emissions, climate change would begin to cost anywhere from 5-20% of the annual global gross domestic product, in contrast to the 1% it would cost to help fight it.
Here are other financial losses as a result of global warming:
- New England- Lobsters are harder to catch because they die from the heat or they obtain parasites from the hot water
- Swiss Alps- As a result of declining snow, ski resorts are having trouble obtaining bank loans to maintain open
- Lake Erie- Lake levels may lessen, altering shoreline habitats racking up millions of dollars in order to restructure the shore and relocate the ports
- As a result of the erratic weather, billions of dollars in damage to property, infrastrucure, and crop yield is made, and now hundreds of thousands of people are starving
- Coral Reefs- Affected by high sea temperatures, it could potentially cost $375 billion per year if they go extinct
As you can see there is a lot of money to be lost if we sit back and ignore the show.