Did you know the Bahamas is home to nearly half the Caribbean’s sandy beaches and vital coral reefs and mangroves? According to an IMF report, it is. OK. So, you’re probably asking, what does this have to do with real estate?
A lot.
You see, reefs, sand dunes and mangroves are among the first lines of defense against property damage from storm surge. By property, I mean homes, roads, docks and public utilities. Your home may not be vulnerable to wave action or flooding, but every taxpayer is affected by the cost of rebuilding damaged public property.
Currently, a 0.5m sea level rise would put at risk up to half of sandy beaches located near hotel infrastructure, according to the IMF report. The IMF is pushing for a deeper understanding of how climate-induced degradation of our ”natural capital” will affect economic activity. Natural capital include fish stocks, coral reefs and beaches.
The IMF says the Bahamas will boost its long-term economic output by over a whopping $1 billion if it starts investing in climate resilient infrastructure and protecting natural assets, like beaches and mangroves. The good news is, every able-bodied person, from a school child up, can play a role in protecting Bahamian property.
Coral Reefs: Corals form a natural and self-repairing breakwater that protect against ocean storms, explains the Bahamas National Trust. Their porous structure absorbs and dissipates oncoming wave energy. Silt from dredging, filling and coastal pollution can suffocate coral. People who throw anchors on reefs and harvest live coral contribute to the degradation. And, of course, reefs provide food and shelter for much of the marine life that supports our commercial and sport fishing industries, not to mention dive and sightseeing tourism.
Trash, including plastic, suffocates and harms corals. Some fishermen use household bleach to drive fish and crawfish from reefs for capture. Bleach kills coral. So, we can protect our property by protecting our reefs.
Dunes: Sand dunes provide natural coastal protection against storm surge and wave action, preventing or reducing coastal flooding and structural damage. The removal of dunes and degradation from heavy pedestrian use, off-road vehicles and car-parking threaten the dune systems. Buildings and golf courses contribute to dune erosion when vegetation is removed. Let’s protect our dune systems.
Mangroves: Mangroves protect coastal homes and communities. Their tangle of prop roots act as a living seawall against strong wind and storm surge. Scientists say mangrove protection during extreme weather is unmatched by any man-made barrier to date. Mangroves are also critical to our marine ecosystem, acting as aquatic nurseries by providing a habitat for coral reef fish, including threatened and endangered species. We must protect our mangroves.
What Can We Do?
We can all play a part in protecting our homes and communities by becoming stewards of the environment. By helping to educate others, taking part in clean-ups and acting responsibly to protect the reefs, dunes and mangroves, we will help protect our property, our economy and our way of life.
Questions or comments? Contact Mr. Lightbourn at [email protected].
(Mike Lightbourn is president of Coldwell Banker Lightbourn Realty)
