bookmark_borderClimate Change: Code Red for Humanity

The UN’s IPCC (Intergovernmental Panel on Climate Control) release their latest report that has been compiled and peer-reviewed over the last 8 years.

U.N. Secretary-General, António Guterres described the report as “a code red for humanity.”

“The alarm bells are deafening, and the evidence is irrefutable: greenhouse gas emissions from fossil fuel burning and deforestation are choking our planet and putting billions of people at immediate risk,” said Mr. Guterres.

Some of the changes already set in motion will be “irreversible” for centuries to come.

A press release from the IPCC states:

The report provides new estimates of the chances of crossing the global warming level of 1.5°C in the next decades, and finds that unless there are immediate, rapid and large-scale reductions in greenhouse gas emissions, limiting warming to close to 1.5°C or even 2°C will be beyond reach.

The report shows that emissions of greenhouse gases from human activities are responsible for approximately 1.1°C of warming since 1850-1900, and finds that averaged over the next 20 years, global temperature is expected to reach or exceed 1.5°C of warming. This assessment is based on improved observational datasets to assess historical warming, as well progress in scientific understanding of the response of the climate system to human-caused greenhouse gas emissions.

“This report is a reality check,” said IPCC Working Group I Co-Chair Valérie Masson-Delmotte. “We now have a much clearer picture of the past, present and future climate, which is essential for understanding where we are headed, what can be done, and how we can prepare.”

Every region facing increasing changes

Many characteristics of climate change directly depend on the level of global warming, but what people experience is often very different to the global average. For example, warming over land is larger than the global average, and it is more than twice as high in the Arctic.

“Climate change is already affecting every region on Earth, in multiple ways. The changes we experience will increase with additional warming,” said IPCC Working Group I Co-Chair Panmao Zhai.

The report projects that in the coming decades climate changes will increase in all regions. For 1.5°C of global warming, there will be increasing heat waves, longer warm seasons and shorter cold seasons. At 2°C of global warming, heat extremes would more often reach critical tolerance thresholds for agriculture and health, the report shows.

But it is not just about temperature. Climate change is bringing multiple different changes in different regions – which will all increase with further warming. These include changes to wetness and dryness, to winds, snow and ice, coastal areas and oceans. For example:

* Climate change is intensifying the water cycle. This brings more intense rainfall and associated flooding, as well as more intense drought in many regions.
* Climate change is affecting rainfall patterns. In high latitudes, precipitation is likely to increase, while it is projected to decrease over large parts of the subtropics. Changes to monsoon precipitation are expected, which will vary by region.
* Coastal areas will see continued sea level rise throughout the 21st century, contributing to more frequent and severe coastal flooding in low-lying areas and coastal erosion. Extreme sea level events that previously occurred once in 100 years could happen every year by the end of this century.
* Further warming will amplify permafrost thawing, and the loss of seasonal snow cover, melting of glaciers and ice sheets, and loss of summer Arctic sea ice.
* Changes to the ocean, including warming, more frequent marine heatwaves, ocean acidification, and reduced oxygen levels have been clearly linked to human influence. These changes affect both ocean ecosystems and the people that rely on them, and they will continue throughout at least the rest of this century.
* For cities, some aspects of climate change may be amplified, including heat (since urban areas are usually warmer than their surroundings), flooding from heavy precipitation events and sea level rise in coastal cities.

For the first time, the Sixth Assessment Report provides a more detailed regional assessment of climate change, including a focus on useful information that can inform risk assessment, adaptation, and other decision-making, and a new framework that helps translate physical changes in the climate – heat, cold, rain, drought, snow, wind, coastal flooding and more – into what they mean for society and ecosystems.

This regional information can be explored in detail in the newly developed Interactive Atlas interactive-atlas.ipcc.ch as well as regional fact sheets, the technical summary, and underlying report.

Human influence on the past and future climate

“It has been clear for decades that the Earth’s climate is changing, and the role of human influence on the climate system is undisputed,” said Masson-Delmotte. Yet the new report also reflects major advances in the science of attribution – understanding the role of climate change in intensifying specific weather and climate events such as extreme heat waves and heavy rainfall events.

The report also shows that human actions still have the potential to determine the future course of climate. The evidence is clear that carbon dioxide (CO2) is the main driver of climate change, even as other greenhouse gases and air pollutants also affect the climate.

“Stabilizing the climate will require strong, rapid, and sustained reductions in greenhouse gas emissions, and reaching net zero CO2 emissions. Limiting other greenhouse gases and air pollutants, especially methane, could have benefits both for health and the climate,” said Zhai.

More on The Human Induced Climate Change Experiment

bookmark_borderClimate Change: Past the Tipping Point

A group of scientists known as Polarstern team spent the last year drifting through the arctic. “The disappearance of summer sea ice in the Arctic is one of the first landmines in this minefield, one of the tipping points that we set off first when we push warming too far,” Markus Rex (one of the 300 scientists from 20 countries) said. “And one can essentially ask if we haven’t already stepped on this mine and already set off the beginning of the explosion. Arctic Ocean ice had retreated faster in the spring of 2020 than since the beginning of records. The spread of the sea ice in the summer was only half as large as decades ago. Only evaluation in the coming years will allow us to determine if we can still save the year-round Arctic sea ice through forceful climate protection or whether we have already passed this important tipping point in the climate system.”

Al Jazeera reports, “Stefanie Arndt, who specialises in sea ice physics, said it was ‘painful to know that we are possibly the last generation who can experience an Arctic which still has a sea ice cover in the summer.”‘

More on Climate Change

bookmark_borderRising Sea Level Turning New Jersey Cedars into Ghost Forests

The New Jersey Department of Environmental Protection released the “New Jersey’s Coastal Community Vulnerability Assessment” ccvamp-final

The sea level is rising faster than forecast. Saltwater intrusion is a current and severe problem. The United States Geological Survey reports, “Saltwater intrusion has occurred to some degree in many of the coastal aquifers of the United States. Since saltwater cannot be used to irrigate crops or be consumed by people, saltwater intrusion can be very problematic to coastal communities that rely on fresh groundwater supplies for the livelihood.”

In New Jersey, saltwater intrusion is killing thousands of Atlantic White Cedar trees and turning the acreage into “ghost forests”.

Ghost Forest / Photo credit: Frank Kummer
Ghost Forest / Photo credit: Frank Kummer

The Human Induced Climate Change Experiment

bookmark_borderCoastal Real Estate Financial Crisis

The rising sea level is putting a trillion dollars of real estate at high risk.

“The question is no longer if rising seas will erode coastal home values, but who will get stuck with the devalued assets when the markets turn,” reported Dee Gill.

“Alarmingly, more than half of that (at-risk property) exposure is estimated to lie outside FEMA flood zones. That means those properties are at higher risk of being underinsured, and, therefore, the loans attached to them are at higher risk of impairment, with increased risk for the value of the related CMBS (securities).” —CFTC

Market Value at Risk of Flooding
Market Value at Risk of Flooding

“Fannie and Freddie carry about $5.6 trillion in assets, mainly home mortgages and related securities. Ultimately, taxpayers backstop the payments on loans under the agencies’ control, UCLA’s Yu explains. Their regulator, the Federal Housing Finance Agency, issued a request for information in January, in part to assess flood risks. The entities require flood insurance that might mitigate their losses only on properties inside FEMA’s poorly drawn flood zones. Coverage limits imposed by NFIP — $250,000 for the structure and $100,000 for personal property — mean many coastal homes that have coverage are grossly underinsured.” — UCLA / Is the $1 Trillion Coastal Housing Market a Future Financial Crisis?

BlackRock, the G20-backed Financial Stability Board and the U.S. Commodity Futures Trading Commission are voicing concerns about unflagged flood risks squirreled away in mortgage-backed securities, bond markets and other real estate-backed investments. Common themes: The exact size of exposure is elusive but big; markets don’t currently price for it; these assets pose a threat to the stability of the global financial system.

More on Flood Insurance and Real Estate Risk

bookmark_borderNational Flood Insurance Program Increasing Rates

FEMA is updating the National Flood Insurance Program’s (NFIP) risk rating methodology through the implementation of a new pricing methodology called Risk Rating 2.0. The methodology leverages industry best practices and cutting-edge technology to enable FEMA to deliver rates that are actuarily sound, equitable, easier to understand and better reflect a property’s flood risk.

The Bradenton Herald reports, “More than a million Floridians will see their flood insurance premium rise next year, FEMA said Thursday.

The good news is, most will see increases of less than $120 a year. The bad news is that homeowners will likely see annual rate hikes like that for the foreseeable future.

The new strategy is meant to help pull the program out of its $20 billion debt and encourage people to live in safer, less flood-prone homes.

The new program will stop charging flood insurance premiums based solely on whether a home is within or outside of a flood zone and instead consider a range of factors like distance from the ocean, rainfall flooding and the cost to rebuild a home.

Starting April 2022, this pricing revamp will lead to higher prices for a majority of Florida’s 1.7 million policyholders — the most of any state — as well as a decrease for about 20% of policies, more than 340,000 policyholders.

“It allows us to set accurately sound rates and communicate flood risk better than we ever have before,” David Maurstad, senior executive of FEMA’s National Flood Insurance Program.

More articles on Flood Insurance, Rising Sea Levels and Global Warming.

bookmark_borderIncreasing Cost and Risk of Flood Insurance

The cost of flood damage to homes nationwide will increase by more than 50% in the next 30 years, the First Street Foundation estimates.

Flood Insurance Forecast

A report by NPR radio, A Looming Disaster: New Data Reveal Where Flood Damage Is An Existential Threat, found:
The federal government provides the vast majority of residential flood insurance in the U.S. Most policies are underpriced relative to the actual cost of flood damage.

The new data show that flood insurance rates would need to more than quadruple to keep up with the costs of climate-driven flooding. The Federal Emergency Management Agency is already preparing to raise insurance premiums in many places later this year in an effort to save the National Flood Insurance Program, which has accrued more than $36 billion in debt.

FEMA warns that the First Street Foundation’s analysis is only an estimate and that FEMA didn’t provide the research group with details about the new flood insurance pricing plan, known as Risk Rating 2.0.

“Any entity claiming that they can provide insight or comparison to the Risk Rating 2.0 initiative, including premium amounts, is misinformed and setting public expectations that are not based in fact,” writes David Maurstad, the senior executive of the National Flood Insurance Program, in an email to NPR. “While entities are free to suggest or estimate their opinion of what flood insurance premiums should be, they are offering exactly that — an opinion — and they do not have insight into the Risk Rating 2.0 initiative.”

For homeowners who are currently underpaying for flood insurance, FEMA says it plans to raise rates by up to 18% each year until the price is accurate, according to a January report by the Congressional Research Service. The agency will begin rolling out the new pricing in October.

As the cost of insurance goes up, many people who need flood insurance will likely be unable to afford it, leaving them to face lasting damage. Research has found that disasters can erode family stability and exacerbate mental and physical ailments when people don’t have the money they need to repair their homes.

“If you don’t have the finances you need to recover, then families have to make really difficult trade-offs, like maybe forgo spending on medical expenses because otherwise you don’t have a safe home,” says Carolyn Kousky, the executive director of the Wharton Risk Management and Decision Processes Center at the University of Pennsylvania.

Flood Damage Risk
Flood Damage Risk
Flood Damage Cost
Flood Damage Cost

More articles on Flood Insurance, Rising Sea Levels and Global Warming.

bookmark_borderIncreasing Cost of Flood Insurance

“Increased awareness of flood risk and rising future insurance costs impact perceptions of value, which will impact real estate markets,” said Matthew Eby, founder and executive director of First Street Foundation.

First Street Foundation published a report that concludes: “Rising sea levels and extreme weather could cause $20 billion of flood damage to at-risk U.S. homes this year, rising to $32 billion (per year) by 2051.”

First Street Foundation Flood Insurance Forecast

“Roughly 4.3 million homes – concentrated in Florida, California, South Carolina and Texas – have a substantial risk of sustaining economic damage from flooding this year, the report shows. The majority are not required by the U.S. government to have flood insurance. Were all of them to buy federal insurance, National Flood Insurance Program (NFIP) rates would need to increase 4.5 times to cover the risk, according to the report. The current average NFIP premium for these 4.3 million homes is $981,” reports Kate Duguid of Reuters.

More articles on Flood Insurance, Rising Sea Levels and Global Warming.

bookmark_borderThe Cumulative Costs of Climate Change

“The crisis carries a profound warning. As climate change brings more frequent and intense storms, floods, heat waves, wildfires and other extreme events, it is placing growing stress on the foundations of the country’s economy: Its network of roads and railways, drinking-water systems, power plants, electrical grids, industrial waste sites and even homes. Failures in just one sector can set off a domino effect of breakdowns in hard-to-predict ways,” as reported by The New York Times in the article Texas Blackouts Point to Coast-to-Coast Crises Waiting to Happen.

“We are colliding with a future of extremes,” said Alice Hill, who oversaw planning for climate risks on the National Security Council during the Obama administration. “We base all our choices about risk management on what’s occurred in the past, and that is no longer a safe guide.”

“Sewer systems are overflowing more often as powerful rainstorms exceed their design capacity. Coastal homes and highways are collapsing as intensified runoff erodes cliffs. Coal ash, the toxic residue produced by coal-burning plants, is spilling into rivers as floods overwhelm barriers meant to hold it back. Homes once beyond the reach of wildfires are burning in blazes they were never designed to withstand.”

“I am extremely concerned by the lack of emergency-management expertise reflected in Biden’s climate team,” said Samantha Montano, an assistant professor at the Massachusetts Maritime Academy who focuses on disaster policy. “There’s an urgency here that still is not being reflected.”

A White House spokesman, Vedant Patel, said in a statement, “Building resilient and sustainable infrastructure that can withstand extreme weather and a changing climate will play an integral role in creating millions of good paying, union jobs” while cutting greenhouse gas emissions.

“All these issues are converging,” said Robert D. Bullard, a professor at Texas Southern University who studies wealth and racial disparities related to the environment. “And there’s simply no place in this country that’s not going to have to deal with climate change.”

bookmark_borderFlood Factor: Estimate Flood Insurance Risk by Address

Flood Factor allows you to enter a property address to determine the future risk of severe flooding.

Access data calculated by a team of more than 80 world-renowned experts using decades of peer-reviewed research.

Over 142 million properties, neighborhoods, and cities analyzed
View any home’s Flood Factor and understand what can be done to protect it from flooding.

>FEMA Current Flood Maps by Address
Whether you are in a high risk zone or not, you may need flood insurance because most homeowners insurance doesn’t cover flood damage. If you live in an area with low or moderate flood risk, you are 5 times more likely to experience flood than a fire in your home over the next 30 years. For many, a National Flood Insurance Program’s flood insurance policy could cost less than $400 per year. Call your insurance agent today and protect what you’ve built.

More articles on Flood Insurance, Rising Sea Levels and Global Warming.

bookmark_borderDroughts and Rising Sea Levels

“There has been a 500% increase in the US drought area,” said Al Roker of the Today show while reporting on 2020 being tied for the hottest year.

The Washington Post reports, “Drought is the sleeper weather story you’ll hear more about in 2021.” [1}

“The impact of desertification is intensifying due to climate change, which is reducing the availability of freshwater, fertile soil, and forest and vegetation. As the degraded land loses value, investments in agriculture and rural development decline even more.” — Ban Ki-moonUnited Nations Secretary-General [2}

This doesn’t have to do with drought episodes. It has to do with areas prone to having droughts. As the area of land that is prone to flooding is increasing exponentially, so too is the land prone to severe, long term drought. We make it even worse by pumping ground water out for agriculture. This depletes the aquifers. The result is sinking land and rising sea levels. The depleted fresh water is then intruded by salt water. Salt water intrusion has a severe impact on the world food supply.

So, you have rising seas above and below the land. Compounding the problem — water expands when it gets warmer. About 1/3 of the rise in sea level is due to thermal expansion of water. [Volumetric Thermal Expansion] The warmer sea water also melts sea ice. The ocean doesn’t reflect the energy the way ice does. In fact just he opposite, the ocean absorbs the heat… making the water warmer… melting more sea ice…. and warming the planet. Which melts the land ice, which raises the sea level. A vicious feedback cycle of fresh water depletion and sea level rise has been created.

Climate change is making weather events more extreme and more frequent. More severe droughts, more severe floods, etc. Energy is being added to the system. “Climate change increases the odds of worsening drought in many parts of the United States and the world in the decades ahead. A changing climate can also alter atmospheric rivers (narrow streams of moisture transported in the atmosphere), which can especially disrupt precipitation patterns in the Western United States. Droughts can persist through a “positive feedback,” where very dry soils and diminished plant cover can further suppress rainfall in an already dry area.” [3]

“Risks from desertification are projected to increase due to climate change (high confidence). The combination of pressures coming from climate variability, anthropogenic climate change and desertification will contribute to poverty, food insecurity, and increased disease burden (high confidence).” [4]

1. Drought is the sleeper weather story you’ll hear more about in 2021. (The Washington Post)
2. DESERTIFICaTION (United Nations)
3. Drought and Climate Change (Center for Energy and Climate Solutions)
4. SPECIAL REPORT: Climate Change and Land Desertification (International Panel on Climate Change)