Floods
A study for the Organisation for Economic Co-operation and Development (OECD) said that the 136 leading coastal cities could face losses of a trillion dollars a year - €750billion a year - as they had been designed to cope with past sea levels.
They were built to cope with expected 100-year storm surges but were not built to face the expected 0.4metre rise caused by climate change over the next 40 years and the more devastating floods that will be produced.
World Bank economist Stephane Hallegatte led the study, called "Future Flood Losses in Major Coastal Cities" and published in Nature Climate Change, and said: "Inaction is not an option. Coastal cities will have to improve their flood management, including better defences, at a cost estimated around €37.5 billion per year for the 136 cities."

A girl babysits her brother inside a temporary shelter at a basketball gym in Calumpit, north of Manila, on August 22, 2013. An estimated 600,000 people remain in shelters or are living with relatives after days of heavy rain.
A day after floods ebbed in the capital Manila, stagnant pools of water and high tides in coastal areas prolonged the misery in the central Luzon plains to the north, civil defence official Josefina Timoteo told AFP.
"These are mainly farmers and fisher folk who still cannot return to their homes or resume work. We are still supplying their needs," said Timoteo, the civil defence chief for the region.
"These are low-lying regions and this happens every year. It is a way of life for many of them and the local governments are well-organised to provide relief."
Seasonal monsoons dumped more than a month's rain in Manila and surrounding provinces between Sunday and Wednesday, the state weather service said, submerging about half the capital in floodwaters.

Filipinos cross chest-deep floods at the financial district of Makati, south of Manila, Philippines on Tuesday, Aug. 20, 2013. Flooding caused by some of the Philippines' heaviest rains on record submerged more than half the capital Tuesday, turning roads into rivers and trapping tens of thousands of people in homes and shelters. The government suspended all work except rescues and disaster response for a second day.
Officials reported at least seven people dead, 11 injured and four missing. The dead included a 5-year-old boy whose house was hit by a concrete wall that collapsed. His two adult relatives also were injured.
Throughout the sprawling, low-lying capital region of 12 million people, floodwaters made most of the roads impassable and reached waist- or neck-deep along rivers and creeks. Authorities opened more than 200 evacuation centers in Manila and surrounding provinces filled with tens of thousands of people, Social Welfare Secretary Corazon Soliman said. Overall, more than 600,000 people have been affected by the floods.
There were three people hurt and one unconfirmed report of a missing person according to the Manitou Springs police chief.
There was damage to homes and businesses along Canon Ave. Streets were closed in the Canon Avenue area and western Manitou Springs.
Police told people to stay away from the town Friday night.
The Waldo Canyon burn zone received about 1.5 inches of rain in a very short period of time.
The muddy floodwaters - swelling Fountain Creek out of its banks in downtown Manitou Springs Friday night.
Off in the distance - the patio of a restaurant - Adam's Mountain Cafe suffered major damage from the messy runoff.
Video posted to Facebook shows banged-up cars, covered in mud and debris, surrounded by the flash flood.
One picture showed a truck and an SUV tossed against each other by the raging water.
The latest area to be hit was the Riviera where this morning 14,000 homes were left without power after violent squalls brought down trees and power cables.
Mayor of Nice Christian Estrosi has said he will ask the government to treat the event as a natural disaster. Businesses along the seafront were damaged along with cars, windows and roofs. Some residents thought they had been hit by a tornado.
The storms has led to the cancellation of several TGV services and disruption to flights at Nice Airport.
A whopping 8.02 inches of rain fell at the Philadelphia International Airport, with 7.35 inches falling between 3 p.m. and 7 p.m. EDT.
Runoff from the heavy rain flooded ramps between Interstate 95 and Broad Street in Philadelphia. Flooding also ensued on Interstate 76 in nearby Gloucester City, N.J.
With the added rain, numerous rainfall records were broken in Philadelphia.
-The 8.02 inches of rain on Sunday shattered the previous record for the day of 3.28 inches set in July 1969.
-The 8.02 inches also established a new record for the most rain on any calendar day, breaking the previous record of 6.63 inches on Sept. 16, 1999 during Tropical Storm Floyd.
-The 13.00 inches through July 28th makes this July the wettest on record and the third wettest month overall, behind 19.31 inches in August 2011 and 13.07 inches in September 1999.
Roads and railway lines were submerged in water after torrential rain and flash flooding hit one small town for the second summer in a row.
Parts of the market town of Todmorden, West Yorkshire, were left under 45cm (18in) of water. Emergency services worked late into Monday night to clear the water and deal with hazards such as partially collapsed roads.
One resident in nearby Walsden was swept along about 15 metres by the torrent. He was carried downhill and ended up on the railway tracks at the end of his street.
Clearing out his flood-damaged home, the man said he was too shaken to talk about the incident.
One of his neighbours said: "The water was bubbling up and he was trying to redirect it. He went through the gate, was taken down the road and under the gate, on to the railway lines.
"He thought he was a goner. It's a fair distance. And with the torrent that was coming through, he's lucky to be alive today. Very, very lucky."
His comments, in an interview with the Guardian, come after a week of intense weather extremes. Last Monday, west London experienced the hottest day for seven years, while on Tuesday the drought in many parts of the country came to an end with intense thunderstorms that brought almost a month of rain in a day to parts of Worcestershire. Torrential downpours also put a dampener on the first weekend of the school summer holidays, with flash-flooding in parts of the south-east and the Midlands.
"The biggest uncertainty for UK agriculture is extreme weather events," said Kendall, who grows wheat and barley on the 250-hectare (620 acre) farm in Bedfordshire he runs with his brother. "I sometimes have a pop at those who say climate change is going to help farming in northern Europe.
The facility's emergency department; radiology department; outpatient department; pathology and medical records departments; and several wards and kitchens have all been evacuated.
A nearby tributary of the River Swilley overflowed and caused the flooding between 5pm and 5.30pm.
In a statement, the HSE confirmed 11 patients have been moved to the day surgery area, which is not in use over the weekend.
The executive has said there is no risk to patients currently in the hospital and the emergency service continues to function.












Comment: See also: Rising food prices, climate change and global 'unrest'