Climate-related extreme weather events have cost the global economy more than $2 billion over the past decade, with the United States being the hardest hit nation, according to a report released Monday.
The document, from the International Chamber of Commerce (ICC, in its original acronym), released at the beginning of the UN climate summit that began today in Baku, Azerbaijan, analyzed 4,000 climate events between 2014 and 2023, with impacts on around 1. 6 billion people.
In the last two full years of the report alone, global economic damage reached $451 billion, according to researchers, a 19% increase compared to the previous eight years.
The United States had the largest economic losses during the period 2014-2023 ($934 billion), followed by China, with $267 billion, and India with $112 billion.
The report reveals that developing economies can be severely affected by occasional extreme weather events, often costing more than their GDP.
“Data from the last decade indicates that climate change is not a future problem, as the economy is already suffering significant productivity losses due to extreme weather events,” said ICC Secretary General John Denton.
The Baku conferenceIt cannot be, as some have suggested, a “transitional” COP, but must present solutions capable of accelerating climate action. proportional to the immediate economic risks,” added John Denton.
To this end, he said, A comprehensive package must be created to accelerate the mobilization of financing, to ensure that all countries can transition to low-carbon and climate-resilient development without further delay.
Source: Observadora
