How Climate Change Puts Property Values at Risk in Forested Areas

Earth’s rapidly changing climate is taking an increasingly heavy toll on landscapes around the world in the form of floods, rising sea levels, extreme weather, drought and wildfire.

Also at growing risk are the values of the property where these hazards are projected to worsen, according to a new study by University of Utah scholars. The research team, led by biology professor William Anderegg, attempted, for the first time, to quantify the value of U.S. property at risk in forested areas exposed to increased wildfire and tree mortality associated with climate stresses and beetle infestation.

“As a society, we have this tremendous capacity to deal with and minimize, adapt to and mitigate risk,” said Anderegg, who heads the university’s Wilkes Center for Climate Science & Policy. “We have insurance policies, we have seat belts in cars and airbags. All of these are to mitigate the risk of getting in a car accident or having a fire burn down your house. But fundamentally, all these tools to mitigate risk are predicated on knowing what the risks are and capturing how those risks might change.” Read more at: University of Utah

Source: ENN