Home » NEWS » Study: Environmental risks could cost Gulf Coast economy

Study: Environmental risks could cost Gulf Coast economy

Source: PR Newswire

NEW ORLEANS — A new study says that Gulf Coast communities could suffer more than $350 billion in economic losses over the next 20 years due to growing environmental risks. The study was released Wednesday by Entergy Corporation (NYSE: ETR) and America’s WETLAND Foundation.

Economic losses could increase up to 65 percent by year 2030 due to economic growth and subsidence, as well as the impacts of climate change.

On average, the Gulf Coast region already faces annual losses of nearly $14 billion. The results of the study were announced in New Orleans during the DELTAS2010: World Deltas Dialogue conference, an America’s WETLAND Foundation-mounted international conference of delta experts.

“Doing nothing is not an acceptable plan. That’s a plan to put Entergy out of business, a plan for misery and suffering for our customers and a plan that would devastate a region already economically impaired,” said Leonard.

The Gulf Coast’s asset value is currently estimated to be more than $2 trillion and is expected to grow to more than $3 trillion by 2030. The study recommends a range of economic adaptation initiatives, such as improved building codes, beach nourishment and roof cover retrofits.

Swiss Re, a global reinsurer, was a lead contributor to the research in the report.

Entergy Corporation provides electric power to 2.7 million customers in Mississippi, Louisiana, Arkansas and Texas. Entergy has annual revenues of more than $10 billion and more than 15,000 employees.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Amy McCullough

Leave a Reply

Your email address will not be published. Required fields are marked *

*