3 ms·
True, but the longer we have to sit on our asses, the more likely we are to succeed in our effort to make a difference when we finally get around to it (due to
by darawk 10y ago
True, but the longer we have to sit on our asses, the more likely we are to succeed in our effort to make a difference when we finally get around to it (due to technological progression).
- omosubi 10y agoI wouldn't count on this - markets don't seem to care about sea level rise at the moment
- pohl 10y agoThe wealthy do love their ocean-view properties, though.
- Cshelton 10y agoThe wealthy can afford to move their properties back/up a few feet.
- sytelus 10y agoGood point. Intuitively I think markets would attempt to approximate probability * cost i.e. expected cost. However there is something intensely wrong how market is functioning with environmental issue. It appears that markets is trying to view the expected cost as debt that needs to be paid in future. The value of debt would be much larger in future but markets seems to be ok with current return. This could be a great theoretical hole in efficient markets theory.
- jedbrown 10y agoReinsurance is definitely concerned about sea level rise. Here is an example presentation from SwissRe showing their estimates of the increasing damages due to climate change (e.g., slide 7). http://www.miamidade.gov/planning/library/presentations/2014-02-11-swiss-re-climate-change.pdf http://www.miamidade.gov/planning/library/presentations/2014...