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Economic losses from extreme weather reached £ 3.6 trillion in 50 years

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Developed countries have suffered most of the $ 3.6 trillion in economic losses from stormy weather over the last 50 years, but the high death toll endured by poor countries has been partially reduced by better evacuation.

Scientists at the United Nations World Meteorological Organization have said that the number of weather-related disasters around the world has increased five-fold over the last 50 years.

According to the report, 115 deaths and more than $ 200 million lost daily during this period were due to climate change, extreme weather events and improved reporting. WMO Atlas for weather, climate, extreme water mortality and economic losses, Covers from 1970 to 2019. Total loss reached $ 36 billion during the period, killing 2 million people.

The latest example is the estimated cost of hurricane Ida, the fifth-largest hurricane to land in the United States, with commercial forecaster AccuWeather forecasting as much as $ 80 billion.

According to the catastrophe and risk modeling group AIR, broader economic costs include estimated $ 17 billion to $ 25 billion in insurer hits. It covers the damage caused by wind and storm surges and pays to repair everything from automobiles to residential, commercial and industrial property rights.

However, AIR figures may result in higher final claims as they do not include claims due to heavy rains and floods caused by Ida, which recently hit Newyork and other eastern US states. there is.

“Today’s rebuilding costs are higher than they were a year ago,” AIR added, highlighting the sharp rise in prices for certain materials that further inflate claims.

According to many of the world’s leading scientists, increasing the frequency and severity of extreme weather events, such as wildfires in Southern Europe, the United States and Siberia, and floods in Northern Europe, would not have been possible without global warming. Probably.

“As a result of climate change, extreme numbers of weather, climate and water will increase, which will be more frequent and serious in many parts of the world,” said WMO Secretary-General Petteri Taaras. ..

In 2017, three of the ten most expensive disasters in the world occurred. Hurricane, Harvey ($ 96.9 billion), Maria ($ 69.4 billion) and Irma ($ 58.2 billion).

According to the WMO, better predictions and evacuation procedures meant a reduction in fatalities, despite the increasing intensity of the event.

However, in some parts of the world, including Africa, the Caribbean, the Pacific Islands, and parts of Latin America, there remained a gap between early warning systems and timely weather forecasts. Only half of WMO’s 193 members had a multi-hazard early warning system.

The United Nations Office for Disaster Risk Reduction, which contributed to the latest WMO Atlas, is more international in managing disaster risk to address the “chronic problem of floods, storms and droughts evacuating millions of people each year.” He said cooperation was needed. ..

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Economic losses from extreme weather reached £ 3.6 trillion in 50 years

Source link Economic losses from extreme weather reached £ 3.6 trillion in 50 years

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