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# New York is sinking, and its bankers could go down with it
- URL: https://werd.io/new-york-is-sinking-and-its-bankers-could-go-down/
- Published: 2023-05-20T13:05:29.000Z
- Updated: 2023-05-20T13:05:29.000Z
- Author: Ben Werdmuller
- Tags: #Import 2025-06-13 09:21

“When discussing climate change that banker suggested that sinking cities was the biggest problem he thought the sector faced. Over 80% of the property portfolio of many banks was, he suggested, in cities where the likelihood of flooding was likely to increase rapidly.” [#Climate](https://werd.io/tag/Climate)

\[[Link](https://www.taxresearch.org.uk/Blog/2023/05/20/new-york-is-sinking-and-its-bankers-could-go-down-with-it/)\]