Climate Crisis: 2022's worst climate disasters cost the world billions of dollars

As we wave adieu to yet another year of climate inaction, we mustn’t forget that the impacts of the climate crisis continue to get more destructive every year. And the cost is rising. According to the UK-based charity organisation Christian Aid, the ten biggest climate disasters this year resulted in damages of at least $3 billion each.

A new report released by Christian Aid, called Counting The Cost: A Year Of Climate Breakdown, states that the human cost of lives lost and displacement cannot be quantified. The report also points out that much of the financial cost  is based only on insured losses, which means that the real cost of these disasters was much higher.

TRENDING STORIES

Why has ecofeminist art acquired greater urgency in today's ...

Great workout gear for the summer

Show a little kindness to lower the temperature

How to do a challenging push workout with light weights

Also Read WMO releases tell-tale signs of extreme weather conditions around the world

Some of the worst disasters this year include the tropical cyclone Hurricane Ian, which displaced over 40,000 people in Cuba and the US and led to damages of over $100 billion. Some of the others, like the devastating floods in Pakistan resulting in damages of over $5 billion. However, the report also highlights the fact that for poorer countries, the losses may be orders of magnitude higher, due to poor insurance coverage.

In a separate list covering other notable climate disasters this year, the report also highlights the deadly heatwave that hit India earlier this year. The charity has called on leaders of the richest nations to do more to provide financial support for countries hit the hardest by the climate crisis. 

Also Read United Nations nature deal can help wildlife as long as countries deliver

The COP27 international climate conference at Sharm El-Sheikh in Egypt earlier this year has been largely seen as a missed opportunity to encourage drastic action. However, it did result in the creation of a loss and damage fund, which will, in theory, allow poorer countries that did not cause global heating but suffer the most from it, to be properly funded to help with climate mitigation and adaptation. Christian Aid uses the report to highlight the need for wealthier countries to ensure that money starts reaching the countries that need it.

2022 has not been a good year in the fight against climate change. Global planet-heating carbon emissions are rising rather than falling, and the planet is quickly running out of time to keep planetary heating within safe limits. As the new report makes very clear, the world’s leaders have to do better in 2023.

MORE FROM THIS SECTION

view all

Boston Dynamics’ new humanoid robot is all-electric

Climate impacts set to cut 2050 global GDP by nearly a fifth...

Nasa's Ingenuity Mars helicopter sends last message to Earth

Scientists create ‘goldene’ – a single atom layer of gold

Nasa seeking faster, cheaper way to bring Mars samples to Ea...

Also Read Climate change will fuel humanitarian crises in 2023, says new study