Friday, June 20, 2008

France: Climate change 'could cost Mediterranean up to $35 bln'

ADNKronosInternational: Unless Mediterranean countries take action, climate change could cost them 30-35 billion dollars by the end of this century, according to a new study to be presented in Paris next month. The study bases its projections on current oil prices of 120 dollars per barrel. "If oil was to go to say 170 dollars, the cost of inaction could be much higher," the European Investment Bank's spokesman in Paris, Henry Marty, told Adnkronos International (AKI).

Entitled, Climate Change, Energy and Water in the Mediterranean, the study has been carried out by the United Nations Environment Programme (UNEP), with financial support from the European Investment Bank. By 2100, temperatures will rise by 2.2-5 degrees celsius, rainfall levels will fall by 4-27 percent and sea levels are expected to rise by 35 centimetres, according to the study.

Heatwaves, fires and flooding will become increasingly common occurrences with "intolerable human consequences", the EIB said in a statement on Friday announcing the report. These changes will have a major impact on the region's economies, especially those of countries in the southern and eastern Mediterranean….

A satellite view of the Mediterranean, NASA, modified by Eric Gaba (Sting), Wikimedia Commons

1 comment:

Brian said...

Do you think in our life time we could see a dam building in the Strait of Gibraltor? The strait is only 14.2km across and building such a dam is technically feasible. This would stop rising sea levels in the Mediterranean but it is unclear what the broader environmental impact would be?