Financing Adaptation to Climate-Induced Retreat from Coastal Inundation and Erosion

Leo Dobes () and Bruce Chapman

No 249536, Working Papers from Australian National University, Centre for Climate Economics & Policy

Abstract: Climate projections suggest increased inundation and erosion of beachfront property on the east coast of Australia over the coming century. Protective measures and accommodation to the effects of flooding offer initial lines of defence, but managed retreat will ultimately be required for some property owners. Current and disaster management frameworks offer little policy guidance on who should pay for retreat, or how. Ordinary insurance, catastrophe insurance, group risk insurance, catastrophe bonds and reverse mortgages offer potential solutions, but are ultimately flawed. This paper examines an innovative proposal in the form of mortgage contingent loans which could minimise government involvement, and therefore the risk to taxpayers.

Keywords: Environmental Economics and Policy; Financial Economics (search for similar items in EconPapers)
Pages: 21
Date: 2011-09
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https://ageconsearch.umn.edu/record/249536/files/CCEP1113Dobes.pdf (application/pdf)

Related works:
Working Paper: Financing Adaptation to Climate-Induced Retreat from Coastal Inundation and Erosion (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ancewp:249536

DOI: 10.22004/ag.econ.249536

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