You've provided a very good examnple of where private enterprise and the markets fail. If the sea rises and weather becomes more catastophic, people will indeed device solutions and mitgations.

Those mitigations won't necessarily include carbon reduction - they'll be increased levee construction, abandonment of low-lying cities and building codes adjusted so that '1 in a century' storms are encountered every couple of years.

What we are trying to do at this point, ius avoid such grim consequences, now and the market can't help us unless we promote panic, which isn't a great strategy.