Sea level rise could cost port cities $28 trillion

By Peter Wilkinson, CNN

November 23, 2009 -- Updated 1440 GMT (2240 HKT)

London, England (CNN) -- A possible rise in sea levels by 0.5 meters by 2050 could put at risk more than $28 trillion worth of assets in the world's largest coastal cities, according to a report compiled for the insurance industry.

The value of infrastructure exposed in so-called "port mega-cities," urban conurbations with more than 10 million people, is just $3 trillion at present.