Flood damage to cost up to $1 trillion per year by 2050

Flood damages for the globe’s 136 largest coastal cities could cost $1 trillion annually by 2050 if protective measures aren’t put in place.

In 2005, annual flood losses for the coastal cities came to $6 billion. A team of economists and scientists considered the impacts of factors such as sea level rise and economic and population growth, noting that floods will become increasingly costly.