Airports take action against rising seas and storms
Global airport operators, faced with rising sea levels and more powerful storms as the climate changes, are starting to invest in measures including higher runways, seawalls and better drainage systems to future-proof immovable assets.
In early September, a seawall at Japan’s Kansai International Airport built on a reclaimed island near Osaka, was breached during Typhoon Jebi.
17-day shutdown
The Kansai runway was flooded and it took 17 days to fully restore airport operations, at a high cost to the region’s economy as well as the dozens of airlines that cancelled flights.
Major airports in Hong Kong, mainland China and North Carolina were also closed due to tropical storms last month.
Such incidents highlight the disaster risks to investors and insurers exposed to a sector with an estimated $262 billion (Dh961.5 billion) of projects under construction globally, according to Fitch Solutions.
Earl Heffintrayer, the lead analyst covering US airports at Moody’s, said the risk of climate change became apparent to investors after Superstorm Sandy closed major New York airports for days in 2012.
San Francisco International Airport, built on reclaimed land that is slowly sinking, has completed a feasibility study on a $383 million project to make the airport more resilient to sea level rises on its 8 miles (12.9 km) of bay front shoreline by 2025.