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LATEST NEWS UPDATES | 10 costliest weather events led to over $120 bn in damages, says report -Antara Baruah

10 costliest weather events led to over $120 bn in damages, says report -Antara Baruah

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published Published on Dec 27, 2022   modified Modified on Dec 28, 2022

-ThePrint.in

Christian Aid's findings come a month after the COP27 agreement to establish a loss and damage fund, which is being set up to assist developing countries vulnerable to the impacts of climate change.

New Delhi: The top ten “costliest” extreme weather events in 2022 led to more than 120 billion US dollars in damages, a new report by UK-based relief and development agency Christian Aid has revealed, adding that the findings should renew focus on how to deal with the aftermath of glaring losses and damages arising from the climate crisis.

The report lists extreme weather events around the world that called for maximum financial costs, intending to “highlight the need for more urgent climate action”. The report’s estimates are based only on insured losses, “meaning the true financial costs are likely to be even higher, while the human costs are often uncounted.”

Hurricane Ian, which hit the US and Cuba in September this year, tops the list, causing losses and damages worth over $100 billion. The drought in Europe from June to September comes a distant second, costing more than $20 billion.

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ThePrint.in, 27 December, 2022, https://theprint.in/environment/10-costliest-weather-events-led-to-over-120-bn-in-damages-says-report/1284639/


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