Chapter 4Developing Strategies and Capabilities to Manage Major Risk Events
Climate change adaptation projects will proceed as planned in the business-as-usual scenario, but retreat and relocation will increasingly be coping strategies of choice, as life in coastal areas and other disaster-prone zones become more and more untenable. Property values will plummet in hazardous areas, and insuring at-risk properties will become prohibitively expensive or impossible at some point, wiping out homeowners’ investments. Jurisdictions worldwide will face the challenge of extensively retrofitting, relocating, or abandoning critical infrastructure elements such as ports, highways, and power plants. Distinctive local and regional ...
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