If you think it’s been extremely hot and humid lately, a new report on the economic impact of climate change in Louisiana and 11 other southeastern states says you haven’t seen anything yet.
During the past 30 years, Louisiana has seen a dozen days each year when temperatures rise above 95 degrees. Between 2020 and 2039, that number will likely increase to between 30 and 52 such days and will further rise to as many as 82 days by midcentury, according to the report from the Risky Business Project, a nonprofit that focuses on the economic impacts of climate change.
But it’s not just hotter and more humid weather that’s in store for Louisiana if current changes in the climate continue. The report spells out a virtual doomsday scenario for Louisiana, with rising heat and sea levels leading to billions of dollars of property being put at risk along the coast, along with decreased labor productivity, higher energy needs and costs, and a significant decline in the state’s agriculture economy.
Among the report’s claims:
- By 2030, between $26 billion and $35.5 billion worth of Louisiana coastal property will likely be at risk of inundation during high tide.
- By the middle of this century, heat-related labor productivity declines across all sectors in Louisiana will likely cost the state’s economy up to $1.8 billion annually, with a 5% chance costs could rise to as much as $2.8 billion.
- Between 2020 and 2039, rising electricity demand related to higher average temperatures is likely to increase residential and commercial energy expenditures by up to 9%.
- Between 2020 and 2039, Louisiana’s soybean yields are likely to decrease by up to 22%, while corn yields are likely to drop by as much as 26%.
See an executive summary, or read the complete report.
