Report: Climate Change Threatens New Jersey's Economy and Coastal Communities
July 23, 2008
FOR IMMEDIATE RELEASE
Contact:
Emily Diamond-Falk, 202-572-3365, ediamondfalk@edf.org
(Washington, DC – July 23, 2008) –A new report released today details the devastating effects climate change will have on New Jersey’s economy and environment. The study was produced by the National Conference of State Legislatures (NCSL) and the Center for Integrative Environmental Research (CIER) at the University of Maryland. Environmental Defense Fund helped to finance the research and production of the report.
“State-focused information on the economic impacts of climate change is crucial to policymakers. Since many of the responses by policymakers will require resources, we need to be able to prioritize our plans so that the fiscal implications are minimized, “said Senator Tom Kean from New Jersey.
“State-focused information on the economic impacts of climate change is crucial to policymakers. Since many of the responses by policymakers will require resources, we need to be able to prioritize our plans so that the fiscal implications are minimized, “said Senator Tom Kean from New Jersey.
The report found that climate change will have wide-spread consequences across New Jersey including, but not exclusive to:
· Economic Impacts. New Jersey’s coastline is home to 60% of the state’s population and land and property valued at $106 billion. A study by the U.S. EPA at Long Beach Island, NJ found that it would cost between $160 million and $790 million to protect coastal residents from a 1 to 3 foot increase in sea levels.
· Coastal Development. Researchers predict that the temperature in New Jersey will increase from 2° F to 8° F by 2100, which will cause coastal sea levels to rise 2 to 4 feet during the 21st century. This will trigger 1% to 3% of coastline to be lost to rising sea levels.
· Tourism. In 2005, New Jersey’s tourism exceeded $30 billion, 70% of which was generated in the coastal areas. Researchers predict that should climate change force a mere 1% decrease in tourists visiting the region by 2017, the indirect economic impact would be a deficit of $3.7% billion and a loss of 40,000 jobs.
The study was part of the State Economic and Environmental Costs of Climate Change, which examined the impacts of global warming on 12 states around the country. NCSL released the report today during an energy conference at the group’s Legislative Summit in New Orleans. In addition to New Jersey, the report looked at how climate change will impact the economy and environment of Colorado, Illinois, Georgia, Kansas, Michigan, North Carolina, Nevada, North Dakota, Ohio, Pennsylvania and Tennessee.
The overview of the project can be found at: http://www.ncsl.org/print/environ/ClimatechangeOver.pdf
The New Jersey report can be found at:http://www.ncsl.org/print/environ/ClimatechangeNJ.pdf
The overview of the project can be found at: http://www.ncsl.org/print/environ/ClimatechangeOver.pdf
The New Jersey report can be found at:http://www.ncsl.org/print/environ/ClimatechangeNJ.pdf
Individual states have already begun to address the issue of climate change: Six states enacted mandatory greenhouse gas reduction laws; 13 states have set voluntary targets; and 26 states have passed renewable energy portfolio standards.
“The Jersey Shore is critical to New Jersey,” said Mark Brownstein, Managing Director of Business Partnerships at Environmental Defense Fund and former member of New Jersey’s Renewable Energy Task Force. “Failure to take immediate steps to cut greenhouse gas pollution threatens the Shore, and with it the multi-billion dollar tourism industry that drives New Jersey’s economy.”
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