Climate costs for Asia Pacific ports
The report estimates costs of US$31 billion to US$49 billion to protect Asia Pacific ports from the effects of climate change. Trade, especially seaborne, accounts for 58% of global GDP and Asian ports account for nine of the top ten in capacity. This report highlights the urgent need for ports infrastructure to consider the physical effects of climate change and to build to withstand those effects.
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OVERVIEW
Chapter 1: Findings
This report estimates the cost of adapting 53 of the biggest Asia Pacific ports to upcoming climate change realities. The costs range between US$31 – $49 billion and cover the geographic breakdown of the ports. It is more affordable to build a port infrastructure higher from the start than to elevate it later in response to rising water levels caused by climate change. Ports in developed countries are more expensive to adapt.
Chapter 2: Developing a cost model
This chapter presents the assumptions taken when estimating costs in response to the climate change situation. The cost embankment generated by rising sea levels and stronger storms is one of the primary threats to greenhouse gases towards ports. The approach is based on the Stanford model, highlighting the cost to elevate US ports. The report shows how climate change can impact the ports, and that planning for solution strategies sooner, rather than later, is more cost-effective.
Recommendations
To achieve successful climate-change-adaptive infrastructure, it is critical to collaborate, action, and promote solutions. The report recommends scenario and projection developments relating to sea levels, storms, temperature, and wind speed. Additionally, the community should evaluate safety margins for current infrastructure and further upgrades for future changes in parameters. New port creation should consider the impact of climate change. The noses of governments, business owners, financiers, and operators should work collectively with a coherent plan. Local and state government participation is also essential. Besides, the report recommends sharing costs through rational means for coastal defence and flood protections.
Conclusion
This report targets port operators and serves as a first-order analysis of costs to adapt Asia Pacific’s largest ports to changing climate conditions. The report aims to stimulate discussions between these operators, financiers, and relevant governments concerning the effects of climate change in Asia. The overall finding is that ports risk incurring significant costs in the face of climate change, and that early climate planning is an essential cost-effective and strategic measure. Other sectors that face similar challenges also require immediate action.
