Climate Change is Very Expensive Even Now

For people who don’t think that climate change will be expensive, they need only to look at the costs of its results in 2010. The grand total of natural disasters below includes earthquakes, which of course are not caused by climate change. But the immense cost of wild weather and that results of that cannot be ignored, especially since they will increase in coming years. In addition to monetary cost, the human cost is also very high.

Natural disasters caused $109 billion in economic damage last year, three times more than in 2009, with Chile and China bearing most of the cost, the United Nations said Monday.

CLIMATE CHANGE [disasters]

The most populous cities on earthquake fault lines include Mexico City, New York, Mumbai, Delhi, Shanghai, Kolkata, Jakarta and Tokyo, according to the U.N.’s International Strategy for Disaster Reduction.

Many people also live in parts of urban areas vulnerable to landslides and floods, which are anticipated to occur more often as a result of climate change, Wahlstrom said, also warning of rising risks from “silent events” like droughts.

… The storms, earthquakes, heatwaves and cold snaps affected 207 million people and killed 296,800, according to the data, which does not incorporate an increase of Haiti’s death toll announced earlier this month by Prime Minister Jean-Max Bellerive.

The global toll estimates that 55,736 people died from a summer heatwave in Russia which led to crop failures and helped drive up food prices.

It also says 2,968 people were killed in an April earthquake in China and 1,985 died from the Pakistani floods.

The 2009 economic price tag of $34.9 billion was unusually low because of the lack of a major weather or climate event in the period, which nonetheless saw floods and typhoons in Asia and an earthquake in Indonesia.

A major earthquake in China in 2008 caused $86 billion in damage, bringing that year’s economic toll to approximately $200 billion. In 2005, the hurricanes that struck the southern United States drove up the global disaster toll to nearly $250 billion.

The economic cost estimates are based on data from national authorities as well as insurance companies including Swiss Re, Munich Re and Lloyd’s. CRED is part of the University of Louvain in Belgium and maintains a database of international disasters for the United Nations.

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