This article was originally published on Lloyds.
Lloyd’s Tercentenary Research Foundation (LTRF) is funding a two year research project “The Role of Coastal Habitats in Managing Natural Hazards and Risk Reduction”.
The first report from this project, Coastal Wetlands and Flood Damage Reduction: Using Risk Industry-based Models to Assess Natural Defenses in the Northeastern USA, was released on 25 October 2016. The report quantifies the economic benefits of coastal wetlands in reducing property damage from storms and flooding in the northeastern United States (USA). In a nutshell, the report finds that:
- Risk industry-based tools can be used to quantify the economic benefits of coastal wetlands for property damage reduction;
- During Hurricane Sandy, temperate coastal wetlands saved more than $625 million in flood damages. Where they remain, wetlands reduced damages by more than 10% on average;
- In Ocean County, New Jersey, salt marsh conservation can significantly reduce average annual flood losses by more than 20%.
Find out more about the project and report here:
- Factsheet on Coastal Wetlands and Flood Damage Reduction
- Video on Coastal Wetlands and Flood Damage Reduction
- Blog: How Much Do Wetlands Reduce Property Damage During Hurricanes? – Siddharth Narayan, PhD, LTRF-UCSC Post-doctoral Scholar
Read on at: Lloyds.