ICES – Results Sample Clauses

ICES – Results. Figure 10 and Figure 11 report the results in term of regional-country GDP losses. Among non-European countries, Japan and East Asia, with respectively 20% and 15% of GDP loss in 2070, are the more adversely affected. In the Mediterranean, Malta is the largest loser with a loss of roughly 15% of GDP in 2070. In the EU, also the Italian coastal regions, Ireland, the Baltic area are more adversely affected. In 2070, losses range from roughly 12% of regional GDP in Veneto to 7.5% in Ireland, Lithuania and Latvia. Southern Spanish and German coastal regions, but also Flanders and London, follow with losses at around 5% of GDP. A rapid inspection of Figure 13 also highlights the added value of the regional analysis. For instance, in 2050 Italy would highlight a country GDP loss of the 4%. This however hides a 6% regional loss in Veneto and a 2% regional loss in Sicily. In summary, in 2070 50 EU NUTS2 regions over the total 269 demonstrate a GDP loss larger than 5%. The exercise also confirms that: losses start to be relevant after 2050, even though in that year 3 EU NUTS areas highlight already a loss larger than 5%, the high ice-melting case produces losses considerably larger than the medium ice melting case; and finally that coastal protection has a very high benefit to cost ratio. Indeed, also accounting for the cost of adaptation, final GDP losses at the regional level are much smaller than in the no adaptation scenario. On average for the EU28, an incremental (BaU) adaptation following the increasing sea-level rise threat, produces costs that are 89% lower than in the no (i.e. constant) adaptation case in terms of GDP loss. This result is particularly important as it confirms also in a general equilibrium context what already found performing a direct cost assessment (Xxxxxx et al. 2018), and stresses the high return of coastal protection expenditure. The regional assessment also highlights spillover effects on land locked regions. Even though, as expected, regions on the coast, directly exposed to sea-level rise, tend to show higher economic impacts, regions that in the different countries are particularly interconnected economically, not only with coastal areas, but also with the overall economic trade flows, show losses of comparable magnitude. The cases of Piedmont and Lombardy in Italy, of the Ile de France in France, Madrid in Spain and of central Germany is emblematic. Figure 10: GDP losses by NUTS region in the EU No additional adaptation scenario...