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Home » Costs of extreme weather driven by climate change mounts, Christian Aid warns

Costs of extreme weather driven by climate change mounts, Christian Aid warns

Costs of extreme weather driven by climate change mounts, Christian Aid warns

Study cites 10 extreme weather events, each causing over $1.5bn in damage

The costs associated with extreme weather events exacerbated by global warming continued to escalate during 2021 while the world’s poorest countries often suffered most, according to Christian Aid.

Its report estimating the cost of “ a year of climate breakdown”, identifies 15 of the most destructive climate disasters of the year, “and underscores the need for wealthy, high-emitting countries to deliver on unmet pledges of financial support for the world’s poorest countries”.

Ten of those events cost $1.5 billion or more. Most of these estimates are based only on insured losses meaning the true financial costs are likely to be even higher.

Among them is Hurricane Ida which struck the US in August costing $65 billion and killing 95 people. July floods in Europe cost $43 billion and killed 240 people while floods in China’s Henan province caused $17.5 billion of destruction, killed 320 and displaced over a million people.

While the report focuses on financial costs, which are usually higher in richer countries because of higher property values and can afford insurance, some of the most devastating extreme weather events in 2021 hit poorer countries.

“In addition to the financial cost, these extreme weather events have caused severe human suffering from food insecurity, drought and extreme weather events causing mass displacements and loss of life,” it concludes.

Flooding

South Sudan experienced the worst flooding in nearly 60 years which has so far impacted over 850,000 people while East Africa continues to be ravaged with drought, “highlighting the injustice of the climate crisis”. In Kenya alone, the drought has pushed over 2 million people into a food crisis.




Study cites 10 extreme weather events, each causing over $1.5bn in damage
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