Key Points
The worst-affected of these properties happen to be located on a bend in the coastline that is a natural erosion hot spot, but sea-level rise induced by climate change is only likely to hasten the damage, says Moore, and bring it to other coastal locations..
In areas where hardening a home could reduce its exposure to climate-related risks, though, banks have been pretty slow to roll out products that might help people pay for solutions, including structural improvements, or defenses against flooding and wildfires, says Burt..
Luca Bertalot, secretary general of the European Mortgage FederationEuropean Covered Bond Council, says there are huge risks to economic productivity if people cant secure homes that protect them from the worst effects of climate change..
Energy efficiency does little to protect properties from the sharper effects of climate changestronger storms, rising seas, wildfires, and floods..
To lessen the burden on people who are most at risk of losing their home to climate change, affordable loans might one day be targeted at consumers in these areas to help them move to safer places, says Burt..
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