'The costs of climate change have been grave this year, both in terms of eye-watering financial losses but also in the death and displacement of people around the world.'
"Climate change will bankrupt us, and along the way, we will lose so much more than money," said one activist in response to the new figures.A new report out Monday shows that 2021 continued the trend of annual climate devastation worldwide that is costing the global economy hundreds of billions of dollars as planet-heating emissions unleash exactly the kind of damage scientists have warned about for decades.
In the United States, the Texas Winter Storm earlier this year that cost $23 billion came in as the third most destructive event worldwide in 2021 while the devastation of Hurricane Ida, totaling $65 billion across numerous states, took the number one spot. At $43 billion, extreme floods that hit European nations over the summer collectively represented the second-most costly disaster of the year.
Christian Aid said that while their report focuses on financial costs, typically higher in richer countries due to higher property values and the existence of insurance markets,"some of the most devastating extreme weather events in 2021 hit poorer nations, which have contributed little to causing climate change."
"The costs of climate change have been grave this year, both in terms of eye-watering financial losses but also in the death and displacement of people around the world," Kramer said."Be it storms and floods in some of the world's richest countries or droughts and heatwaves in some of the poorest, the climate crisis hit hard in 2021."
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