According to a Rhodium Group study, the largest climate change-related economic losses in the U. Two billion dollars could be lost in winter recreation due to less snow and ice. For example, rapid warming in the Adirondack Mountains could decimate the winter activity sector, which makes up 30 percent of the local economy.
In addition, as water temperatures increase, water quality could suffer due to more frequent and more intense algae blooms, which can be toxic, thus curtailing recreational water activities and freshwater fishing.
Midwest | U.S. Climate Resilience Toolkit
More frequent and severe wildfires will worsen air quality and discourage tourism. Sea level rise could submerge small islands and coastal areas, while deforestation and its destructive impacts on biodiversity could make some tourist destinations less attractive. Climate change and its impacts across the globe will threaten the bottom line of businesses in a variety of ways. The frequency and intensity of extreme weather, both in the U.
Drought will make water more expensive, which will likely affect the cost of raw materials and production. Climate volatility may force companies to deal with uncertainty in the price of resources for production, energy transport and insurance.
And some products could become obsolete or lose their market, such as equipment related to coal mining or skiing in an area that no longer has snow. Whether in the U. In , the Carbon Disclosure Project asked more than 7, companies to assess their financial risks from climate change. Hitachi Ltd. Some companies have already been impacted by climate change-related losses.
Western Digital Technologies, maker of hard disks, suffered enormous losses in after flooding in Thailand disrupted its production. Photo: Calif. National Guard. So anybody that lent a lot of money to the coal industry 10 years back would be in trouble. One of the things worrying those in the financial field is that this could happen to the oil and gas industry.
So people who have invested in them or lent money to them are potentially at risk. The good news is that climate change also presents business opportunities. There will be more opportunity in clean energy, resilient and green buildings, and energy efficiency. Hybrid and electric vehicle production and the electric public transit sector are expected to grow. Construction of green infrastructure and more resilient coastal infrastructure could create many new jobs.
As the Arctic sea ice melts, new shipping lines will open up for trade, substantially cutting transport time.
The warming Arctic could also offer more prospects for oil and gas drilling. Weather satellites and radar technology will be in demand to monitor extreme weather. Air conditioning and cooling products will be needed around the world. Biotech companies are developing new crops that are resistant to climate change impacts.
Pharmaceutical companies expect increased demand for drugs to combat diseases such as malaria and dengue and other infectious diseases.eralexjomcha.gq/evolutionary-systems-biology.php
Climate Change Adaptation Resources
And the market for military equipment and private security services may expand because the scarcity of resources could trigger civil unrest and conflict. How much climate change will hurt the economy depends on what measures we take to adapt to and prepare for it. Individuals need to consider the implications of climate change when choosing where to spend and invest their money.
And be aware that while a particular risk may not seem to be factored into prices yet, things could turn on a dime when the realization of risk sinks in, resulting in a massive redistribution of wealth. And in any case, purchase flood and fire insurance, and diversify your investments. Individuals should also think about different opportunities in terms of new places that people are moving to.
And, if possible, people who work outdoors in construction, agriculture or tourism should consider alternative jobs within the sector or new industries to work in. Businesses need to scrutinize their operations carefully. Banks and funds need to analyze where their investments are and see if they are vulnerable to climate change. Have they invested in someone who has coastal property, or given a loan to a fossil fuel company or in agriculture operations that might be affected by climate change?
Sixty-three percent of financial risk managers surveyed now believe climate change is a major concern. Governments should proactively think about the risks their communities face before disaster strikes. LIRR infrastructure raised and hardened with flood resistant materials.
Photo: Wikimedia. Government leaders are currently debating whether the country can afford the Green New Deal an ambitious plan to address climate change or something like it. Degrowth is the most effective solution. Eco-sufficiency and life quality are more important than profit maximization.
Get our newsletter I'd like to get more stories like this. Email address. This effort will help the District make logical green infrastructure funding decisions, will help municipalities and non-governmental organizations prioritize their actions, and will help inform municipalities and private funders where their green infrastructure money can do the greatest good.
The Dane County Climate Change Action Council was formed in March with a mission to ensure that Dane County government was better prepared for weather extremes brought on by global climate change. The City of Marquette is the largest city in Michigan's Upper Peninsula and one of the most economically diverse in the state. The city is especially vulnerable to environmental, economic, and social impacts of climate change, largely because it borders Lake Superior. A team of Michigan State University Extension specialists and educators received funding from the Great Lakes Integrated Sciences and Assessments Center GLISA to collaborate with GLISA researchers, relevant decision makers, and stakeholders in Marquette to increase community resilience through incorporating climate variability and change adaption strategies into local land use master plans and policies.
Overwhelmingly, residents and local leaders wanted to protect the natural environment that makes Marquette such a desirable place to live. This report details the process and results of this community-driven process, and also contains specific, detailed GIS maps of the region that reflect the climate vulnerabilities and concerns of the residents and leaders in the Marquette region. This report, the first of its kind for the City of Grand Rapids, outlines the condition of the city's climate resiliency and offers recommendations for how it can both impact and adapt to climate change.
The report documents projected local climate changes, their potential negative impact to low-income families, and outlines small near-term solutions that the city can make to curb or adapt to climate change. Recommendations include investing in green space and improving the city's tree canopy, improving the city's energy autonomy, and implementing green street infrastructure materials and maintenance techniques. The goal of the Tribal Adaptation Menu is to provide a resource for incorporating tribal and traditional values into the existing NIACS Adaptation Workbook as well as other climate adaptation planning processes.
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This initial report provides a climate science foundation for the other national assessment products. The CCCR is written for a broad range of professionals who are familiar with the topic of climate change but who may not have expertise in the physical sciences.
Flooding is the natural hazard with the greatest economic and social impact in the United States, and these impacts are becoming more severe over time. The report identifies commonalities and variances among the case study metropolitan areas in terms of causes, adverse impacts, unexpected problems in recovery, or effective mitigation strategies, as well as key themes of urban flooding. It also relates, as appropriate, causes and actions of urban flooding to existing federal resources or policies.
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4th U.S. National Climate Assessment Vol. II: Notable Findings
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