The author of a report on climate costs says dollar signs alone cannot calculate the losses caused by extreme weather.
A new report out Monday shows that 2021 continued the trend of annual climate devastation worldwide that is costing the global economy hundreds of billions of dollars as planet-heating emissions unleash exactly the kind of damage scientists have warned about for decades.
Four of the ten most costly events took place in Asia, with floods and typhoons costing a combined $24 billion. But the impact of extreme weather was felt all over the world. Australia suffered floods in March which displaced 18,000 people and saw damage worth $2.1 billion while floods in Canada’s British Colombia led to $7.5 billion in damage and 15,000 people having to flee their homes. Insurance and financial loss data on the recent tornadoes in the U.S.
Dr. Kat Kramer, the group’s climate policy lead and author of the report, said dollar signs alone cannot calculate the losses caused by extreme weather. Kramer said that there was some progress made at the recent U.N. climate summit in Glasgow, but that the latest findings show “it is clear that the world is not on track to ensure a safe and prosperous world.”
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