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Impact of climate risk materialization and ecological deterioration on house prices in Mar Menor, Spain.

ABSTRACT: The frequency and severity of extreme events related to climate change have intensified worldwide in the last decades. It is documented that increasing extreme rainfall and flooding cause more nutrient runoff into waterbodies, initiating numerous harmful algal bloom (HAB) events, especially in fragile ecosystems. We analyze the dramatic economic damage of one of these episodes in Mar Menor, the largest salt-water lagoon in Europe. We show that when the public perceived the severity of environmental degradation, the return on housing investment was 43% lower in the surroundings than in similar neighboring zones 6 years after the HAB (2015). This represents a loss in housing wealth of more than 4000 million euros, around ten times the gains of changing from dry-farming to irrigated crops, which makes this ecosystem fragile. Hence, we quantify some of the economic consequences of ecological deterioration linked to episodes of Global Climate Change.

SUBMITTER: Lamas Rodriguez M

PROVIDER: S-EPMC10362035 | biostudies-literature | 2023 Jul

REPOSITORIES: biostudies-literature

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Impact of climate risk materialization and ecological deterioration on house prices in Mar Menor, Spain.

Lamas Rodríguez Matías M Garcia Lorenzo Mari Luz ML Medina Magro Manuel M Perez Quiros Gabriel G

Scientific reports 20230721 1

The frequency and severity of extreme events related to climate change have intensified worldwide in the last decades. It is documented that increasing extreme rainfall and flooding cause more nutrient runoff into waterbodies, initiating numerous harmful algal bloom (HAB) events, especially in fragile ecosystems. We analyze the dramatic economic damage of one of these episodes in Mar Menor, the largest salt-water lagoon in Europe. We show that when the public perceived the severity of environmen ...[more]

PMID: 37479797

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Project description:Modern controlled environment facilities (CEFs) enable the simulation of dynamic microclimates in controlled ecological experiments through their technical ability to precisely control multiple environmental parameters. However, few CEF studies exploit the technical possibilities of their facilities, as climate change treatments are frequently applied by static manipulation of an inadequate number of climate change drivers, ignoring intra-annual variability and covariation of multiple meteorological variables. We present a method for generating regionalized climate series in high temporal resolution that was developed to force the TUMmesa Model EcoSystem Analyzer with dynamic climate simulations. The climate series represent annual cycles for a reference period (1987-2016) and the climate change scenarios RCP2.6 and RCP8.5 (2071-2100) regionalized for a climate station situated in a forested region of the German Spessart mountains. Based on the EURO-CORDEX and ReKliEs-DE model ensembles, typical annual courses of daily resolved climatologies for the reference period and the RCP scenarios were calculated from multimodel means of temperature (ta), relative humidity (rh), global radiation (Rg), air pressure (P), and ground-level ozone and complemented by CO2. To account for intra-annual variation and the covariability of multiple climate variables, daily values were substituted by hourly resolved data resampled from the historical record. The resulting present climate Test Reference Year (TRY) well represented a possible annual cycle within the reference period, and expected shifts in future mean values (e.g., higher ta) were reproduced within the RCP TRYs. The TRYs were executed in eight climate chambers of the TUMmesa facility and-accounting for the technical boundaries of the facility-reproduced with high precision. Especially, as an alternative to CEF simulations that reproduce mere day/night cycles and static manipulations of climate change drivers, the method presented here proved well suited for simulating regionalized and highly dynamic annual cycles for ecological CEF studies.

Dataset Information

Impact of climate risk materialization and ecological deterioration on house prices in Mar Menor, Spain.

Publications

Impact of climate risk materialization and ecological deterioration on house prices in Mar Menor, Spain.

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