Climate change is expected to increasingly affect US trade and economy, as well as add more volatility to global supply chains and the availability and price of commodities, a new report has found.
The fourth National Climate Assessment, published by the Trump administration last week, says that without more significant global greenhouse gas mitigation and regional adaptation efforts, climate change is expected to cause substantial losses to infrastructure and impede the rate of economic growth over this century.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“Flooding is becoming more frequent along the US coastline, growing seasons are lengthening, and wildfires are increasing,” the report states. “The impacts of climate change beyond our borders are expected to increasingly affect our trade and economy, including import and export prices and US businesses with overseas operation and supply chains.”
In terms of infrastructure and transportation, sea levels are expected to continue to rise along almost all US coastlines, and by 2100, coastal flood heights that today cause major damages to infrastructure would become common during high tides nationwide. Some ports could see major effects from “land sinking”.
“Coastal infrastructure provides critical lifelines to the rest of the country, including energy supplies and access to goods and services from overseas trade; increased damage to coastal facilities is expected to result in cascading costs and national impacts,” the report notes.
In the northeast of the country, in particular, rainfall volume and intensity have increased. Intense precipitation, ie rain, snow, sleet, or hail, has cascading effects on other airports and cargo movement networks, such as trucking and rail, due to delayed or cancelled flights and stranded crews.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“The projected increases in tropical cyclone wind speeds and rainfall intensity by the end of the century indicate that shipments in Hawai’i and the Pacific Islands may be interrupted more frequently and for longer periods. Storms also cause erosion and dramatic changes to island coastlines, with associated damages to roadways, harbors, and airports,” the report notes.
Click here to access the full report.
