Report: Floods to cost 400 billion

A new report from DTU, reviewed by Berlingske, warns that the cost of inaction on climate-proofing for the next several decades will be extremely high, surpassing the expenses required to defend coastlines and properties from flooding. Researchers, led by climate economist Kirsten Halsnæs, estimate nearly 400 billion current-day kroner in damages from cloudbursts and storm surges over the next 100 years if no measures are taken. Conversely, investing around 130 billion kroner in climate-proofing can prevent most of the damages. The insurance industry association, Forsikring & Pension (F&P), argues for significantly higher prioritization of this issue. F&P’s CEO, Kent Damsgaard, emphasizes the high cost of inaction and the urgent need for coordination and investment. Environment Minister Magnus Heunicke (Social Democrats) speaks of an extensive analysis underway, including a national risk mapping, and assures that the government has plans for funding preventive measures, highlighting the need to prioritize climate challenges in Denmark’s long-term economic policy.