The "Wagon Wheel," a series of navigation canals are seen in an aerial view of the wetlands that border the coast of Louisiana. (Photor: Derick E. Hingle/Bloomberg)
(Bloomberg) – When Hurricane Sandy hit the U.S. East Coast in October 2012, its 80-mile-per-hour winds and the resulting flooding did about $71 billion in damage. After the storm, researchers found that natural coastal ecosystems saved communities from Maryland to New Jersey about $625 million in damages.
Offset carbon emissions
Now one insurer is thinking about investing directly in wetlands to try to mitigate the risks from storms to its bottom line and to offset its carbon emissions.
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