bookmark_borderExtreme Rainfall–surge Hazard Risks

by Daniel Brouse

Most climate change models forecast rising sea levels as the predominant threat of a warming climate to flood risks. Though sea level rise is of great concern, so should be extreme rainfall.

Both the sea and air temperatures are rising. Warm air can hold more moisture than cool air. Warmer sea temperatures result in more evaporation. Warmer air can hold more moisture. The increased moisture in the air moves over land causing inland deluges.

Hurricane Ida in the summer of 2021 is a good example. Because of the 85 degrees Fahrenheit Gulf of Mexico ocean temperature, Ida rapidly gained strength right before it made landfall jumping from a Category 1 to a Category 4 storm. The warm air allowed more moisture to be carried as rain. The storm was so large that it was able to pick up more moisture from the Atlantic Ocean. The ocean moisture was carried inland and dumped over places like Pennsylvania and New York. Ida caused record flood damage in parts of Pennsylvania. The Philadelphia Inquirer reported, “The remnants of Hurricane Ida destroyed or damaged hundreds of homes in Southeastern Pennsylvania and caused more than $100 million in public infrastructure damage across the state.” There were more deaths in the Northeastern USA than where the storm made landfall in Louisiana. The New York Times reported, “The remnants of Hurricane Ida caused flash flooding and a number of deaths and disrupted transit across parts of New York and New Jersey. The storm killed at least 43 people in New York, New Jersey, Pennsylvania and Connecticut and left more than 150,000 homes without power.”

The Journal Nature published the study Tropical cyclone climatology change greatly exacerbates US extreme rainfall–surge hazard examining how current models underestimate the risk of Rainfall–surge Hazard. “Tropical cyclones (TCs) are drivers of extreme rainfall and surge, but the current and future TC rainfall–surge joint hazard has not been well quantified. Using a physics-based approach to simulate TC rainfall and storm tides, we show drastic increases in the joint hazard from historical to projected future (SSP5–8.5) conditions. The frequency of joint extreme events (exceeding both hazards’ historical 100-year levels) may increase by 7–36-fold in the southern US and 30–195-fold in the Northeast by 2100. This increase in joint hazard is induced by sea-level rise and TC climatology change; the relative contribution of TC climatology change is higher than that of sea-level rise for 96% of the coast, largely due to rainfall increases. Increasing storm intensity and decreasing translation speed are the main TC change factors that cause higher rainfall and storm tides and up to 25% increase in their dependence.”

From the article Rising Temperatures Bringing Bigger Floods published in the Journal Science, “CO2 emissions have boosted risk of intense precipitation and consequent flooding. To determine how rising temperatures have altered flood risk, atmospheric scientist Pardeep Pall of the University of Oxford in the United Kingdom and his colleagues ran thousands of climate simulations. In roughly half of them, they reduced atmospheric concentrations of carbon dioxide to levels measured in the year 1900, and they adjusted ocean temperatures and the amount of Arctic sea ice—which affects high-latitude weather patterns—accordingly. In the other simulations, they modeled modern conditions. Then they compared the rainfall amounts generated in both types of simulations. Finally, they fed the rainfall values into a model that assesses the potential for flooding. In 90% of the simulations, results suggested that the flood risk in England and Wales in autumn 2000 was at least 20% higher than it would have been in 1900.”

As the Earth warms, the air will hold more moisture. More moisture-laden air moves over land and creates atmospheric rivers (Pineapple Express). The Journal EOS in the article Atmospheric Rivers Spur High-Tide Floods on U.S. West Coast said, “Atmospheric rivers are narrow bands of moisture that travel across the lower troposphere, generally at the leading edges of massive low-pressure systems. At their peak, they can carry as much water through the sky as the Amazon River does on land. They unleash intense winds and heavy rain as they surge across the Pacific Ocean, eventually making landfall on the U.S. West Coast, contributing to many high-tide flooding events.”

The atmospheric rivers also bring heavy rainfall inland causing extreme flooding. In October of 2021 NOAA said, “a convergence of storms brought more than half a foot of rain to parts of the Bay area in addition to strong winds, flash floods, and mud/landslides. They also bring the potential for heavy snow to higher elevations in the Sierra Nevada mountain range.” (Atmospheric River Hits the West Coast)

More articles on Flood Insurance, Extreme Weather Events, Rising Sea Levels and Global Warming

bookmark_borderAssessing Climate Risk

The LA Times reports,”The municipal bond market looks to satellites to help assess climate risk”

The $3.8-trillion municipal-bond market has found a new tool in its effort to understand the effects of climate change: satellites orbiting Earth.

Assessing climate risks is a particularly vexing problem given that U.S. state and local governments tend to give investors information that’s too little or just too late. But the use of geospatial data and information from sources such as Google Earth could help municipal bond investors evaluate and price the risks posed from a warming climate, rising sea levels and natural disasters.

“Largely, finance lives in columns and rows in Excel spreadsheets — climate change is not a row-and-column exercise,” said Chris Goolgasian, director of climate research at Wellington Management, a Boston asset manager that uses mapping technology to consider the effects of climate change on investments including municipal bonds. “It’s much more powerful to see it visualized.”

bookmark_borderReal Estate, Climate Change, Health and Wellness

Where you live is greatly impacted by climate change. Pollution that causes global warming impacts your health and well-being. Sea level rise and extreme weather events impact the value of your real estate, insurance and your financial health.

Climate Change and Health

Death By Ozone

Ozone primarily affects the respiratory and immune systems. The damage is permanent, untreatable and often results in death. The Santa Barbara County Air Pollution Control District reports, “Roughly one out of three people in the U.S. is at risk of experiencing ozone-related health effects.”

Health Impacts, Risks, and Adaptation in the United States

Impacts from climate change on extreme weather and climate-related events, air quality, and the transmission of disease through insects and pests, food, and water increasingly threaten the health and well-being of the American people, particularly populations that are already vulnerable.

Pollution Kills Part 2

Pollution will kill you. Usually, it is a slow, painful death.

Air Pollution Kills

Air pollution may be the largest problem facing the world. 600,000 children die per year to indoor and outdoor air pollution.

bookmark_borderThe Horror World will Face from Climate Change

, explains:

“I said it was the new normal a few years ago,’’ Brown said in an exclusive interview with POLITICO. “This is serious …. but this is only the beginning. This is only a taste of the horror and the terror that will occur in decades.’’

“And it will occur in various spots: in America, in Africa, in Canada,’’ said Brown, who will travel to Washington this week to speak on climate change issues. “It’s unpredictable, other than the fact that it will get worse in present trajectory. Washington, under Trump, is doing very little — and even the Congress has been unable to mobilize under Washington.’’

“It’s a real threat, but it has to be managed. This is the world we live in. And it will get more dangerous.”

bookmark_borderMortgage-backed Securities Exposed to Coastal Flooding Risk

An article in the Business Telegraph entitled “Climate change: the CMBS angle” explains:

“… $56bn in commercial mortgage-backed securities that are exposed to coastal flooding risk in the US, and it’s not pretty viewing.”

“It is often asked why US politicians are blasé about climate change, but we may suggest that will all change if the real estate of their high-profile donors begins to shed value as it slips into the sea. Suddenly, a Green New Deal, perhaps with state-subsidised housing insurance for victims of flooding, may not sound quite so bad.”

Coastal Flooding Risk Map
Coastal Flooding Risk Map

bookmark_borderClimate Change Disasters Scare Off Insurance Industry

Australian insurance companies are becoming leery of insuring high risk properties.

Climate change disasters could scare off the Australian home insurance industry

“The idea of parts of Australia being so exposed to natural disasters that they aren’t able to get home insurance seems scary but that’s exactly what insurers are warning of as climate change boosts the frequency of extreme weather events.”

The rise of red zones of risk

Dramatic hikes in insurance premiums combined with tighter lending in response to climate risk could trigger a wider property market correction, according to leading climate risk analyst Karl Mallon.

The warning comes as new analysis from his firm Climate Risk shows the number of “uninsurable” addresses in Australia is projected to double by the turn of the century to nearly 720,000 — or one in 20 — if nothing is done to address escalating risk from extreme weather and climate change.

Thousands more will see their insurance premiums double or even triple within decades, the data reveals.

bookmark_borderFinancial Risks From Climate Change

A New York Times Report on Federal Reserve Bank of San Francisco

* Home values could fall significantly.

* Banks could stop lending to flood-prone communities.

* Towns could lose the tax money they need to build sea walls and other protections.

* Volatility related to climate change has become “increasingly relevant” as a consideration for the central bank.

The Full Federal Reserve Report
Volume 14 , Issue 1, 2019Community DevelopmentINNOVATION REVIEW

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