Damage from 10 of the worst natural disasters in 2021 exceeded $170 billion – report

    30 Dec 2021

    The world’s most damaging ten natural disasters in 2021 resulted in more than $170 billion in economic losses, The Hill reported, citing Christian Aid’s annual report.

    “The losses from climate change have been serious this year, both in terms of staggering financial losses and in terms of death and displacement of people around the world,” The Hill quotes the author of the report, Catherine Kramer.

    The report notes that in 2021 the damage from the 10 most serious disasters was $ 20 billion more than the damage from 10 similar disasters a year earlier.

    The report also emphasizes that these data are calculated only for losses subject to insurance coverage, so the actual loss could be much higher. At the same time, The Hill explains that financial losses from natural disasters tend to be higher in richer countries due to insurances and higher property values.

    The three most unprofitable disasters out of ten occurred in the United States and Europe. The most catastrophic was Hurricane Ida, which hit the south and east of the United States in August. The damage from it amounted to $65 billion.

    In second place are floods in Europe in July – $43 billion, in third place was the February snow storm in Texas – $23 billion.

    The world suffered losses estimated at about $170 billion due to 10 climate-related disasters during 2021, Bloomberg reported citing a recent study.

    This was the sixth time that natural disasters cost the world more than $100 billion in one year, while climate change is already costing billions, the study conducted by Christian Aid Charitable Foundation in the UK said.

    Hurricane Ida was the largest global disaster, with losses amounting to $65 billion.

    Floods in Europe caused an economic loss of $43 billion, while floods in China’s Henan province in July cost more than $17 billion.

    This year also witnessed disasters in South Sudan, Bangladesh and other countries.

    “Severe droughts in East Africa, which are expected to continue until mid-2022, are pushing societies over the edge,” Bloomberg reported citing Mohamed Addo, director of the Kenya-based think tank Power Shift Africa, said.

    The damages are based on insured losses, which means that the true costs of these disasters are likely to be higher, according to the study.

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    Speaking about Iraq and Syria, more than 12 million people threatened by drought in 2021, warn aid groups. Read the full story here.

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