Sea Levels Threaten Economy

Rising sea levels attributable to climate change will have severe consequences for the US economy, according to a report released November 23 by the World Wildlife Fund and insurer Allianz SE. Currently, a major storm surge puts $1.4 trillion worth of property at risk in the US. By 2050, anticipated global sea levels rising by 0.5 meters will push that amount to $7.4 trillion. The most at-risk cities in this scenario are Miami, New York, and New Orleans. The report urges President Obama to attend the Copenhagen Climate Conference to circumvent this threat to the domestic economy. Obama announced Wednesday that he will attend the international conference on December 9.