2024 Climate Disasters Inflict Over $200 Billion in Damages, Says Report

The ten most expensive climate disasters in 2024 accounted for over $200 billion in damages, exacerbating suffering particularly in vulnerable nations. Hurricane Milton led as the costliest event, while multiple severe weather incidents were closely linked to climate change. Christian Aid’s report urges for urgent emissions reductions and support for the most affected communities to counteract the escalating climate crisis.

In 2024, the world witnessed ten climate disasters that incurred damages exceeding $200 billion, according to a report released by Christian Aid. Each of the ten disasters caused losses surpassing $4 billion, predominantly reflecting insured losses, therefore indicating that true costs may be significantly higher. Christian Aid has urged immediate action to reduce greenhouse gas emissions and enhance financial support for vulnerable nations grappling with climate change effects. Joanna Haigh, a climate expert, emphasizes that politicians who underestimate the climate crisis only contribute further to public suffering globally. While high-value properties primarily in developed nations represent the bulk of financial losses, the report draws attention to other catastrophic events affecting poorer regions that, although not cost-heavy, are equally devastating. Experts assert that a majority of extreme weather occurrences exhibit distinct indicators of climate change, leading to their increasing intensity and frequency.

Hurricane Milton emerged as the most financially burdensome event, inflicting $60 billion in damages when it struck the United States in October. Following closely, Hurricane Helene, which arrived two weeks prior, caused $55 billion in damages across the US, Mexico, and Cuba. The report indicates staggering losses from storms throughout the year, totaling over $60 billion even without hurricanes included. Furthermore, Europe faced severe damages with three of its extreme weather events landing among the ten costliest, including significant flooding attributed to Storm Boris, and the catastrophic flooding in Valencia that claimed 226 lives. Global figures include devastating flooding in China that resulted in 315 fatalities while costing approximately $15.6 billion, in addition to Typhoon Yagi, which led to over 800 deaths and $12.6 billion in damages.

Christian Aid identifies additional crises that, despite not being financially significant, inflicted profound human suffering, such as Cyclone Chido in Mayotte, which may have claimed over 1,000 lives. Concurrently, heatwaves impacted 33 million residents in Bangladesh, exacerbating humanitarian challenges in Gaza, while floods affected 6.6 million people in West Africa. The prolonged drought across multiple Southern African nations has impacted over 14 million individuals. Patrick Watt, chief executive of Christian Aid, articulated that the increased intensity of weather-related disasters is a consequence of continued fossil fuel dependence and unmet financial commitments to the most vulnerable nations. Dr. Mariam Zachariah from Imperial College London stated that the phenomena of extreme weather are rising in frequency and intensity, with clear evidence linking them to climate change. As emphasized by Professor Joanna Haigh, this economic burden should serve as a crucial wake-up call, reminding policymakers that the technologies for a sustainable energy future are available, and require substantial government investment and implementation.

The escalating frequency and severity of climate-related disasters are attributed to climate change, prompting urgent calls for governmental action. The report from Christian Aid outlines the financial ramifications of weather extremes influenced by climate change and highlights the plight of poorer nations disproportionately impacted by these disasters and lacking resources for mitigation and recovery. Experts illustrate the connection between soaring costs and the urgency for emissions reduction, as ongoing fossil fuel reliance continues to exacerbate the climate emergency. Historical data correlating heightened weather events with carbon emissions underscore the necessity of transitioning to sustainable practices and supporting affected communities.

In summary, 2024 has been marked by unprecedented climate disasters that have collectively resulted in over $200 billion in damage. These events highlight the dire consequences of climate change and the urgent need for global leaders to act decisively in curbing emissions and providing necessary support for vulnerable countries. The testimonies of experts underscore that these disasters, characterized by increasing intensity, should serve as a catalyst for immediate action towards a greener future and climate resilience.

Original Source: www.irishnews.com