According to research released on Monday, major regions in the U.S. and China are among the most vulnerable to climate change, putting some of the world’s industrial and commercial hubs in danger from rising sea levels, coastal flooding, and wildfires.
16 of the 20 places in the world that are most in danger from climate change are found in China, according to climate risk specialists at The Cross Dependency Initiative (XDI), which undertakes physical climate risk studies. The researchers analysed over 2,600 places throughout the globe to estimate the amount of economic harm caused by climate-related disasters by 2050.
According to XDI data, Jiangsu and Shandong, two of China’s largest sub-national economies, are currently ranked first and second globally. China, which has seen an increase in manufacturing and infrastructure investment in areas already endangered by climate change, is home to more than half of the top fifty provinces in the world.
The U.S. has the most locations at risk of climate change behind China, with Florida coming in at number 10, California at number 19, and Texas at number 20. Nearly half of all U.S. states are in the top 5% of those most at risk in the world.
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According to the report, flooding or flooding combined with coastal inundation would cause the majority of expected climate-related damage. Other threats include excessive heat, forest fires, soil movement due to drought, extreme wind, and freeze-thaw.
The Chief Executive of XDI, Rohan Hamden said: “Since extensive built infrastructure generally overlaps with high levels of economic activity and capital value, it is imperative that the physical risk of climate change is appropriately understood and priced.”
He added that “It is crucial for companies, governments and investors to understand the financial and economic implications of physical climate risk and weigh this risk in their decision-making before these costs escalate beyond financial tipping points.”
The Intergovernmental Panel on Climate Change’s (IPCC) scenario of a 3 degrees Celsius (5.4 degrees Fahrenheit) rise in temperatures by 2100 is the basis of the XDI analysis.
Story was adapted from CNBC
