September 27, 2022

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The cost of climate change will increase from $ 20 billion in 2021 to $ 170 billion

The cost of climate change will increase from $ 20 billion in 2021 to $ 170 billion

Hurricane Ida East America $ 65 billion

$ 43 billion in catastrophic floods in Germany and Belgium

Cold wave and Texas storms $ 23 billion

The Henan floods in China cost $ 17.6 billion

The 10 most costly climate disasters this year have caused more than $ 170 billion in damage, an increase of $ 20 billion compared to 2020, a British charity revealed on Monday.
Every year, Christian Aid in the UK calculates the cost of climate disasters such as floods, fires and heat waves based on insurance companies and end reports.
The organization found that $ 10 billion had been lost in the world’s 10 most expensive disasters, an increase of 13 percent this year.
Christian Aid points out that this upward trend reflects the effects of man-made climate change, with the first ten disasters killing at least 1,075 people and displacing 1.3 million people from their homes.
Hurricane Ida, which struck the eastern United States, topped the list of the most costly disasters in 2021, causing a loss of about $ 65 billion. After hitting Louisiana in late August, it headed north and caused unprecedented flooding in New York City and surrounding areas.
Next on the list is Ida, which caused $ 43 billion in damage from deadly floods in Germany and Belgium in July.
Cold waves and winter storms in Texas destroyed the state’s largest power grid, causing losses of $ 23 billion, followed by flooding in the Chinese province of Henan in July, costing about $ 17.6 billion.
Other disasters that have caused billions of dollars include flooding in Canada, late spring frosts in France, destruction of wine flags and hurricanes that hit India and Bangladesh in May.
The report points out that its estimates mainly cover climate disasters in rich countries with better infrastructure, as it is difficult to estimate the financial losses caused by disasters in poor countries.
The organization provided an example of how the floods in South Sudan affected about 800,000 people.
The report notes that “the most devastating climate disasters of 2021 have hit poorer countries where the contribution to climate change is minimal.”
In mid-December, the Swiss Re, the world’s largest reinsurance company, estimated that $ 250 billion in damage had been caused by climate change this year.
He said the figure was 24 per cent higher than last year, the fourth highest expenditure incurred by the insurance sector alone since 1970.
(AFP)

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