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Tag: coastal

Scientists struggle to save seagrass from coastal pollution

Technology
DURHAM, N.H. -- Peering over the side of his skiff anchored in the middle of New Hampshire’s Great Bay, Fred Short liked what he saw. Just below the surface, the 69-year-old marine ecologist noticed beds of bright green seagrass swaying in the waist-deep water. It was the latest sign that these plants with ribbon-like strands, which had declined up to 80% since the 1990s, were starting to bounce back with improved water quality. Seven rivers carry pollution from 52 communities in New Hampshire and Maine into the 1,020-square-mile (2,650-square-kilometer) watershed for the bay. “It actually looks better than it did last year at this time and better than has in many years,” said Short, a noted seagrass expert who coordinates the monitoring of 135 sites around the world from his Un
Banks to take 55% haircut on Coastal Energen’s debt of Rs 6,500 crore

Banks to take 55% haircut on Coastal Energen’s debt of Rs 6,500 crore

Finance
Mumbai: Banks have agreed for a one-time settlement for Tamil Nadu-based Coastal Energen, which owes creditors Rs 6,500 crore. Lenders have agreed to sell the company’s debt at a 55% haircut to a consortium comprising Hong Kong’s alternative investment fund SSG Capital and the distressed debt unit of Deutsche Bank, two people involved in the negotiations said. A 55% haircut works out to an upfront cash payment of Rs 2,925 crore, which the lenders will receive in lieu of their debt. They have also been offered a 15% equity in the firm, which could give them an upside in the future, said one of the persons quoted above. “The equity value is approximately Rs 200 crore, which we will get through issuance of fresh shares to banks. We expect this resolution plan to be completed either by the end
‘Don’t buy coastal properties’: UN scientists issue stark warning on climate

‘Don’t buy coastal properties’: UN scientists issue stark warning on climate

Technology
No part of the planet will be spared a climate crisis as oceans warm, and glaciers and ice sheets melt, according to a pivotal report by United Nations scientists.The Intergovernmental Panel on Climate Change (IPCC) warns one billion people will be affected as soon as 2050 because of rising sea levels, water shortages and food insecurity. The report, compiled by more than 100 leading climate scientists, calls for urgent, ambitious and coordinated action. ...
Protecting U.S. coastal communities from sea level rise will cost $400 billion

Protecting U.S. coastal communities from sea level rise will cost $400 billion

Science
June 21 (UPI) -- To protect themselves from the inevitable threat of rising sea levels, coastal communities in the United States will have to shell out more than $ 400 billion, according to a new report released by the Center for Climate Integrity. Authors of the new report estimate 50,000 miles of coastal barriers will need to be built across 22 states over the next two decades. The report, compiled with the help of engineering firm Resilient Analytics, organizes the costs by city, county, congressional district and state. Not surprisingly, researchers with the Center for Climate Integrity expect Florida to pay the steepest price -- more than $ 75 billion -- to protect its coastal communities from rising seas. For the report, researchers relied on moderate sea-level rise projections and...