Geneva: Flooding in the world`s major port cities caused by melting icecaps could cause up to 28 trillion dollars (18 trillion euros) in damage in 2050, environmental group WWF said in a report Monday.
"If the temperature rises between 0.5 and 2 degrees (Celsius) between now and 2050, it`s possible that the sea level would progress by half a metre (nearly two feet) bringing major financial damage," Ulrike Saul, in charge of climate and energy for WWF Switzerland, said to a news agency.
Such a rise in the sea level would cause up to 28 trillion dollars in damage in the world`s 136 biggest port cities, according to the study in which German insurance company Allianz took part.
Saul warned: "If the current climate protection policies do not change, it is more probable that we will register a rise of 2 degrees in 2050."
The northeast coast of the United States could see a rise in sea levels 15 centimetres higher than the world average, the study said.