Global Damage From Extreme Weather And Other Disasters Set To Break $200 Billion A Year

The trend in annual damages from global disasters is rising and almost broke $200 billion in 2012, according to World Bank figures released Monday. And three-fourths of the losses are due to extreme weather. The report, which makes the case for greater global investment in climate resiliency and disaster risk management, found that worldwide losses from such events have been steadily rising since at least 1980. “Over the last 30 years, the world has lost more than 2.5 million people and almost $4 trillion to natural disasters,” said Rachel Kyte, World Bank Vice-President for Sustainable Development, citing work from the global reinsurance giant Munich Re. “And three quarters of those losses are a result of extreme weather.”

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On Sept 19, 2023 ahead of the Climate Ambition Summit in New York City, climate activists gathered for a rally and civil disobedience outside Bank of America Tower in Midtown Manhattan as part of the March to End Fossil Fuels wave of actions resulting in multiple arrests. Activists demand Bank of America to “Defund Climate Chaos and Defend Human Rights” Photo: Erik McGregor (CC BY-NC 2.0 Deed)

Let’s Save Each Other

Let’s Save Each Other

Illustration by Stephanie McMillan. Used with permission