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Climate disasters cost $41 billion since COP28

A recent report revealed that extreme weather occurrences have resulted in more than $41 billion in damages worldwide since the international climate discussions in Dubai (COP28) in December last year. 

News Arena Network - New Delhi - UPDATED: June 10, 2024, 08:25 PM - 3 mins read

Climate disasters cost $41 billion since COP28

Climate disasters cost $41 billion since COP28

Representational Image - (polarconnection.org)


Millions of individuals in India are experiencing scorching heat exacerbated by climate change. A recent report revealed that extreme weather occurrences have resulted in more than $41 billion in damages worldwide since the international climate discussions in Dubai (COP28) in December last year. 

 

According to a report by the UK-based NGO Christian Aid, four extreme weather events in the last six months - all scientifically proven to have been influenced by climate change, leading to increased likelihood and intensity - have caused the deaths of over 2,500 people. 

 

The non-profit organisation stated that there has been insufficient progress since COP28 in the UAE to transition away from fossil fuels or support lower-income nations in dealing with climate-related catastrophes. 

 

As the second week of mid-year climate discussions in Bonn began on Monday, the organisation underscored that these statistics highlight the current impact of the climate crisis.

 

"Rich countries, responsible for the lion's share of the greenhouse gases that are heating the atmosphere and fuelling extreme events, should recognise their historic responsibility and increase their funding to the Loss and Damage Fund to help other countries cope with and recover from extreme weather," Christian Aid said.

 

Delegates at the UN climate talks in Dubai in December agreed to establish a new fund to address the impacts of climate change that disproportionately affect impoverished communities in the Global South.

 

The charity stated that the estimated $41 billion in damages is too low. Typically, only insured losses are reported, and many of the most devastating disasters have occurred in countries where only a small percentage of individuals or businesses have insurance.

 

The report also mentioned that these numbers do not fully reflect the true human cost of these disasters.

 

According to the report, floods that killed at least 169 people in Brazil and caused at least $7 billion in economic damages were made twice as likely by climate change.

 

In South and Southwest Asia, climate change made flooding more likely and resulted in at least 214 fatalities and insured damages totalling $850 million in the UAE alone.

 

Several heatwaves occurred simultaneously in West, South, and Southeast Asia, causing the death of over 1,500 individuals in Myanmar alone. The report noted that heat-related deaths are often not fully reported.

 

According to the report, the heatwave is anticipated to hinder economic growth and increase inflation. In Southeast Asia, the report emphasized that such a heatwave would have been unattainable without the influence of climate change. Moreover, climate change in South and West Asia made the heatwave five and 45 times more likely, respectively, and intensified its severity.




Related Tags:#Climate Change
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