(Bloomberg) -- A day after California imposed mandatory waterrestrictions to battle a four-year drought, a new study on globalwarming suggests the worst is yet to come.

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The average number of days with temperatures higher than 95degrees Fahrenheit (35 degrees Celsius) may double or even tripleby the end of the century, threatening one of the world’s richestagricultural regions. At the same time, $19 billion in coastalproperty will likely disappear as sea levels rise, the studyfound.

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The report is the third from the Risky Business Project, anonprofit partnership of Bloomberg Philanthropies, the PaulsonInstitute and TomKat Charitable Trust. It suggests California canreduce these risks if policy makers and business leaders cooperateto reduce emissions driving global warming and adapt to climatechange.

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“While state action alone will not be sufficient to avoid theworst impacts of climate change, California can be a model ofclimate leadership for the nation and the world,” the reportsaid.

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California Governor Jerry Brown issued an executive orderWednesday imposing a mandatory 25% reduction in waterconsumption.

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According to the Risky Business report, rising temperatures willmean more frequent wildfires, increased respiratory problems due toworsening air pollution and higher heat-related mortality.California likely will have almost 7,700 annual deaths linked toheat by late century. The research was conducted by the RhodiumGroup, a New York-based research company.

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Rising Seas

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Rising sea levels affecting the 840-mile (1,350-kilometer)California coast may also cause billions of dollars of losses towaterfront property and infrastructure. Melting ice sheets andglaciers in the polar regions and Greenland are helping increasethe volume of liquid water in the oceans. Sea levels have increasedby 49 millimeters (1.9 inches) this century, according to theNational Aeronautics and Space Administration.

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As warming weather shifts more precipitation from snow to rain,California’s snowpack -- already at just 6% of normal -- willshrink further, according to the Risky Business report. Meltingsnow provides a significant portion of the state’s water throughoutthe year.

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About 80% of California’s water goes to its $48 billionagriculture industry, which supplied almost two-thirds of U.S.fruits and nuts in 2012 and more than one-third of the country’svegetables. The report predicts “a dramatic increase in extremeheat,” especially in the San Joaquin Valley that’s home to much ofthe state’s farming, and the Inland South area.

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Hotter Summers

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“By the end of this century, summers in California will likelybe hotter than summers in Texas and Louisiana today,” the reportsaid.

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“California faces a new set of challenges and opportunities”with $8 billion to $10 billion of existing property in the statelikely “underwater by 2050, with an additional $20 billion at riskduring high tide,” it said in an executive summary. “By 2100, $19billion in coastal property will likely be below sea level” andthere’s a 1% chance that more than $26 billion will be at risk.

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The Risky Business Project was founded in 2013 to focus onquantifying economic risks from a changing climate. The project’sco-chairs are Michael Bloomberg, majority owner of Bloomberg LP,the parent company for Bloomberg News, Henry Paulson and TomSteyer.

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Copyright 2018 Bloomberg. All rightsreserved. This material may not be published, broadcast, rewritten,or redistributed.

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