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This SpringerBrief uses a complexity perspective to integrate risk,
finance, and ecological issues in Miami, USA. It focuses on how the
modern financial system, particularly the mortgage market,
perceives and manages the risk of climate change. Authors Kathleen
Sealey, Ray King Burch and P.-M. Binder offer the case study of
South Florida to illustrate how landscapes can be either
re-purposed to function ecologically when residents relocate or
rebuilt to reduce the threat of future flooding, the tools needed
to make these decisions, and how financial systems view and
influence them. While the need to integrate financial markets into
coastal (and environmental) management is increasingly recognized,
the difficulty of this task is made greater by the speed of
financial innovation and the obscurity and complexity of its
practices. This book will discuss the innovative Southeast Florida
Regional Climate Compact, and the success of public-private
partnerships in planning and adapting to sea level rise, but also
the broad disconnect with the cash-and-credit-driven real estate
market of South Florida. The book presents an interdisciplinary
approach to the understanding of the coupled human (including
finance) and natural systems in coastal cities, thus breaking new
ground in the approach towards sustainability research and
education. The final chapter introduces the social component of
resilience which include pre-disaster outreach with and the
potential for decision theory to help people understand and manage
risk.
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