Flooding in the world’s major port cities caused by melting icecaps could cause up to 28 trillion dollars (18 trillion euros) in damage in 2050, environmental group WWF said in a report Monday.
“If the temperature rises between 0.5 and 2 degrees (Celsius) between now and 2050, it’s possible that the sea level would progress by half a metre (nearly two feet) bringing major financial damage,” Ulrike Saul, in charge of climate and energy for WWF Switzerland, told AFP.
Such a rise in the sea level would cause up to 28 trillion dollars in damage in the world’s 136 biggest port cities, according to the study in which German insurance company Allianz took part.
Saul warned: “If the current climate protection policies do not change, it is more probable that we will register a rise of 2 degrees in 2050.”
The northeast coast of the United States could see a rise in sea levels 15 centimetres higher than the world average, the study said.