![]() ![]() ![]() ![]() In order to link physical climate risk to socioeconomic impact, we investigated cases that illustrated exposure to climate change extremes and proximity to physical thresholds. We explored risks today and over the next three decades and examined specific cases to understand the mechanisms through which climate change leads to increased socioeconomic risk. In Climate risk and response: Physical hazards and socioeconomic impact, we measured the impact of climate change by the extent to which it could affect human beings, human-made physical assets, and the natural world. Johns, and Broward counties, which could see their average annual losses grow by approximately 80 percent by 2050. However, individual counties can see more extreme increases. Based on analysis conducted by KatRisk for this case study, average annual damages from storm surges in Florida’s residential real estate market total $2 billion today, a figure that could increase to $3 billion to $4.5 billion, by midcentury depending on whether the exposure is expected as constant or as seeing some buildup. We consider two impacts from rising sea levels: increased flooding from storm surge and tidal flooding. For example, the frequency of tidal flooding from rising sea levels is expected to grow from a few days a year to 30 to 60 times per year in 2030 and more than 200 times per year in 2050 for stations near Florida’s coast, according to First Street Foundation. Climate change is projected to exacerbate flooding due to storm surges, precipitation intensity, and rising sea levels that increase tidal (also referred to as nuisance) flooding. ![]()
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