$228 billion lost, 2,000 lives taken: The shocking cost of 10 worst climate disasters of 2024 revealed
1 week, 3 days ago

$228 billion lost, 2,000 lives taken: The shocking cost of 10 worst climate disasters of 2024 revealed

Live Mint  

2024 year-ender: Ever wondered what is the economic cost of extreme weather events? Well, the ten worst climate disasters resulted in an estimated damage of over $228 billion worldwide in 2024, a new report revealed. The report titled ‘Counting the Cost 2024: A Year of Climate Breakdown’ by Christian Aid also highlights ten extreme weather events that didn’t rack up big enough insured losses to make the top ten but were just as devastating and often affected millions. 2024 year-ender: In terms of events which caused the biggest financial losses in 2024, the US bore the brunt No part of the world was spared from crippling climate disasters in 2024, with floods in China costing $15.6 billion and killing 315 people, and Typhoon Yagi which battered southwest Asia, killing more than 800 people. The UK didn’t make the list this year but in December the Environment Agency warned that a quarter of properties in England, eight million, could be at risk of flooding by 2050 due to climate change While the top ten focuses on financial costs, which are usually higher in richer countries because they have higher property values and can afford insurance, some of the most devastating extreme weather events in 2024 hit poorer nations, which have contributed little to causing the climate crisis and have the least resources to respond.

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