The Cost of Rising Sea Levels

August 7, 2019 – Coastal cities around the planet will all face the challenge of dealing with sea-level rise as the century unfolds. But few have looked at just how much it will cost to put up barriers to future inundation. Here are just a few of the numbers being tossed around in American municipalities:

• Boston has estimated $2.4 billion over the next few decades to protect the city from flooding.
• Charleston has estimated $2 billion for drainage projects to pump out water after flooding.
• Norfolk has a quote from the Army Corps of Engineers for $1.4 billion to erect seawalls.
• Houston planners have a budget of $30 billion to deal with future flooding after Hurricane Harvey killed 68 and caused $125 billion in damages.
• New York City has proposed a $10 billion storm surge barrier.

The Center for Climate Integrity recently released a study that estimates the costs to protect U.S. shorelines looking at a breakdown by states, counties, cities, and congressional districts. The report represents estimated annual costs by 2040 for building sea walls.

Leading the lists are these states:

• Florida – $75.9 billion
• Louisiana – $38.4 billion
• North Carolina – $34.8 billion
• Virginia – $31.2 billion

City rankings include:

• Jacksonville – $3.46 billion (works out to $3,990 per capita)
• New York – $1.97 billion ($231 per capita)
• Virginia Beach – $1.72 billion
• Marathon (Florida Keys) – $1.5 billion

In rural coastal areas, the per capita costs to build sea walls rises dramatically. For example, Cumberland County, New Jersey per capita cost would be $37,366, and Dare Country, North Carolina, $154,747.

The U.S. Army Corps of Engineers has $98 billion in backlogged projects to deal with rising sea levels but only receives $2 billion in appropriations annually.

So short of a hurricane, storm surge, or other extreme weather events that cause extensive damage and loss of life, when emergency funds get released, the United States has yet to put in place climate mitigation and adaptation funding that addresses sea-level rise. In some cases, cities are issuing bonds to build up funds for the inevitable. Miami has raised $192 million with its Miami Forever Bond. Florida’s Resilient Coastlines Program, a state-budgeted initiative has $5.5 million in funding, a pittance compared to the billions needed annually as the century unfolds.

So why is so little being put aside to fight what the science is telling us is inevitable. Because there’s no profit in it. Protecting against likely future damage to existing infrastructure isn’t very sexy. Cities, states, and national governments are thus reluctant to do much more.

If it is this bad in the richest nation on the planet, think of what low-lying cities and nations on the rest of the planet are facing. They have a paucity of infrastructure, and insufficient financial means to even begin to address sea-level rise. For them, the strategy will likely be one of abandonment in the quest to move to higher ground.