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BumRushDaShow

(143,395 posts)
Mon Nov 11, 2024, 08:53 AM Nov 11

Report: Extreme weather cost world $2 trillion in 10 years, U.S. worst hit

Source: Axios

8 hours ago


Climate-related extreme weather events cost the global economy more than $2 trillion over the past decade and the U.S. was the worst-affected nation, per a report published as leaders gather for the COP29 summit in Azerbaijan Monday.

Why it matters: The damage estimates in the Oxera report for the International Chamber of Commerce for 2014-2023 roughly equate to those of the 2008 global financial crisis and ICC secretary-general John Denton said "the economic impact of climate change" needs a "response of similar speed and decisiveness," per CNN.

What they did: The report's researchers examined nearly 4,000 events that occurred over the 10-year period which impacted 1.6 billion people.

What they found: In the last two full years of the report alone, global economic damages reached $451 billion. That's a 19% rise compared to the previous eight years of the decade, according to the researchers.

  • The U.S. had the greatest economic losses over the period from 2014-2023 ($934.7 billion), followed by China at $267.9 billion and India ($112 billion).


  • Read more: https://www.axios.com/2024/11/11/extreme-weather-economic-cost-climate-change-cop29



    Link to Oxera REPORT (PDF viewer) - https://embed.documentcloud.org/documents/25285058-2024-icc-oxera-the-economic-cost-of-extreme-weather-events/?embed=1

    Link to Oxera REPORT (PDF) - https://s3.documentcloud.org/documents/25285058/2024-icc-oxera-the-economic-cost-of-extreme-weather-events.pdf
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    Report: Extreme weather cost world $2 trillion in 10 years, U.S. worst hit (Original Post) BumRushDaShow Nov 11 OP
    Yeah, that's bad. But billionaires will be richer and the Dow will go up, so it's good, right? Right? ck4829 Nov 11 #1
    And Trump intends to kill alternative energy and drill, drill, drill Freethinker65 Nov 11 #2
    Well forty per cent of that time will be hit with denial. republianmushroom Nov 11 #3
    Don't worry. Trump will fix it. Boomerproud Nov 11 #4
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