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NY Faces $519B Climate Repair Bill by 2050
23 Jul
Summary
- New York must spend over half a trillion dollars by 2050.
- Damaging storms are becoming more frequent and costly.
- Rebuild by Design compiled the staggering infrastructure cost.
New York is projected to spend more than half a trillion dollars on infrastructure by 2050 to address climate change impacts. This projection comes from a report by Rebuild by Design, a nonprofit established after Hurricane Sandy to bolster flood defenses. The group analyzed public records for climate adaptation projects, including those awaiting funding and those completed since Hurricane Sandy.
The analysis reveals a projected expenditure of $519 billion by 2050. This figure does not account for the costs of future, unpredictable disasters, which could easily add hundreds of millions of dollars more. The state has already seen severe weather events, such as the deluge in Highland Falls, N.Y., and recent heavy rains causing widespread damage in the New York City metropolitan area.
