What Will Adaptation Cost? An Economic Framework for Coastal Community Infrastru – hinnat ja saatavuus

Global sea level has been rising over the past several decades and is expected to continue to rise in the decades to come. This shift poses a grave threat to coastal communities. Low-lying areas will experience more frequent inundation and shorelines will be more susceptible to increased erosion. Increased storm surges are already causing devastating floods. Sooner than most community leaders realize, some areas could be submerged so often or eroded so severely that people will be forced to abandon their homes and businesses. According to the National Ocean Economics Program, coastal communities account for nearly 60 percent of the nation's gross national product. 1 With so much of our nation's economy increasingly vulnerable to coastal hazards, communities need to consider future sea level rise in their decision- making. Deciding on the best course of action, however, is not always easy. Issues are complex and there is a lot of uncertainty. Community leaders find themselves grappling with questions like: -How will sea level rise and increased storm surge affect my community? -What is the cost of doing nothing? -What can we do to adapt? -How can I determine the best adaptation strategy? -How much will it cost to keep my community safe? The purpose of this framework is to help communities begin to find answers to these difficult questions. By understanding the costs and benefits of different adaptation strategies, decision-makers can make more fully informed decisions that are fiscally responsible in the short and long terms. More importantly, economically informed decision-making will lead to safer, more responsible, economically sound communities. In the long run, the entire community benefits by investing in adaptation efforts: after a flood event, utilities will be restored quicker, stores and banks will be open sooner, children will return to school faster, and residents will be back at work with minimal disruption. Up-front investments can help ensure a successful future. By accounting for the full costs of inundation risks, leaders can make strategic choices about where, when, and how to make investments in adaptation responses to maximize benefits and minimize risk.