US Climate Finance
The U.S. has sustained 373 weather and climate disasters since 1980 where overall damages/costs reached or exceeded $1 billion (including CPI adjustment to 2023). The total cost of these 373 events exceeds $2.655 trillion.
2023 in Progress...
In 2023 (as of December 8), there have been 25 confirmed weather/climate disaster events with losses exceeding $1 billion each to affect United States. These events included 1 drought event, 2 flooding events, 19 severe storm events, 1 tropical cyclone event, 1 wildfire event, and 1 winter storm event. Overall, these events resulted in the deaths of 482 people and had significant economic effects on the areas impacted.
Article about US losses due to climate change
The recent report from the Deloitte Economics Institute suggests that the United States could see substantial economic benefits, including a $3 trillion gain and the creation of nearly 1 million additional jobs by 2070, if it undertakes a rapid transition to a low-carbon economy over the next 50 years. The report emphasizes the economic necessity of such a shift to mitigate potential losses from climate change. On the contrary, failure to take sufficient action could result in a significant economic cost of $14.5 trillion over the next 50 years, equivalent to nearly 4% of GDP or $1.5 trillion in 2070 alone. The report highlights the urgency in addressing climate change, noting that inadequate action could lead to the annual loss of nearly 900,000 jobs due to climate-related damages.
Beach Renourishment Projects
To us:
It refers to a specific undertaking or initiative aimed at restoring and enhancing the shoreline of a beach through the addition of sand or other sediments. This type of project is commonly undertaken in response to coastal erosion, which can result from natural processes, human activities, or a combination of both. The primary objective of a beach renourishment project is to mitigate the effects of erosion, maintain or expand the beach area, and protect coastal infrastructure.
Miami Beach
The present renourishment project is being conducted along four critically eroded sections of the shoreline through a $40.4 million contract that was awarded July 30, 2021. The federal government is funding the entire cost of the renourishment.
Panama Beach
The construction cost for the repair project is $28.5 million and is entirely federally-funded; there are no local or state matching dollars required. Because this is an authorized and previously built federal shore protection project, the project team secured Federal Flood Control and Coastal Emergencies funds for this project to replace the sand losses due to hurricanes Michael and Sally in 2018 and 2020, respectively.