Yes, multi-million dollar investments on the sea are stupid, at this point, IMO. But people still love the ocean and flock to beachfront properties anyway, and are willing to pay a lot to do it, so these projects are still profitable at least in the short-term. But long-term? Doubt.
Funny you should bring up business planning, because modeling climate change and its effects are exactly what insurance companies are doing right now.
https://www2.deloitte.com/us/en/pages/financial-services/articles/insurance-companies-climate-change-risk.html
Insurance companies that failed to predict the California wildfires for instance are losing their shirts. Insurers would like to get out of certain markets entirely. Many states are enacting “FAIR” (Fair Access to Insurance Requirements) laws that force insurers to provide coverage to properties that they otherwise wouldn’t.
https://www.thebalance.com/fair-plan-policies-2645392
Is this government commandeering private business and telling it what to do? Yeah, pretty much. But it’s politically popular and so it happens. One instance where an alternative free market solution to climate change — let the homeowners willing to take the risk of living in disaster-prone areas bear the risk, and don’t force companies and taxpayers to subsidize such development — actually exists.
So, indeed, “follow the money” — if you don’t trust politicians, scientists, or the government on climate change, look at what is taking place in the insurance industry.