The Nature Climate Change study looked at both present and projected future flood losses in the 136 largest coastal cities in the world, looking at their financial risks both in absolute terms—taking into account protections like sea walls and dikes—and as a percentage of the city’s GDP. The cities ranked as most at risk today range from Guangzhou in southern China to Mumbai in India to, yes, New York City. What those cities tend to have in common is high wealth and population levels and relatively little flooding protection. (By contrast, Dutch cities like Amsterdam or Rotterdam—which are extremely flood-prone geographically—aren’t found on the list because the Netherlands government has invested heavily in coastal protection.) Three American cities—Miami, New York and New Orleans—are responsible for 31% of the total losses across the 136 cities surveyed in 2005. When it comes to losses as a percentage of total city GDP—which gives the very richest cities like New York an advantage—Guangzhou, New Orleans and Guayaquil in Ecuador are most at risk.