Report: Extreme weather cost world $2 trillion in 10 years, U.S. worst hit

Yea -- just keep denying climate change hurt the people you love most; your children and grandchildren, etc.


Climate-related extreme weather events cost the global economy more than $2 trillion over the past decade and the U.S. was the worst-affected nation, per a report published as leaders gather for the COP29 summit in Azerbaijan Monday.
Why it matters: The damage estimates in the Oxera report for the International Chamber of Commerce for 2014-2023 roughly equate to those of the 2008 global financial crisis and ICC secretary-general John Denton said "the economic impact of climate change" needs a "response of similar speed and decisiveness," per CNN.

What they did: The report's researchers examined nearly 4,000 events that occurred over the 10-year period which impacted 1.6 billion people.

What they found: In the last two full years of the report alone, global economic damages reached $451 billion. That's a 19% rise compared to the previous eight years of the decade, according to the researchers.

• The U.S. had the greatest economic losses over the period from 2014-2023 ($934.7 billion), followed by China at $267.9 billion and India ($112 billion).

Yes, but: Per capita, the French part of the small island of Saint Martin incurred the greatest cost: $5.1 million in total, but the average cost per person was $158,886.

• U.S territory Puerto Rico, which has yet to full recover from 2017's devastating Hurricane Maria, was fifth on the worst-affected nations per capita.
• The U.S. was 10th in these rankings.

See rankings and more:

Credence said:

Yea -- just keep denying climate change hurt the people you love most; your children and grandchildren, etc.


Climate-related extreme weather events cost the global economy more than $2 trillion over the past decade and the U.S. was the worst-affected nation, per a report published as leaders gather for the COP29 summit in Azerbaijan Monday.
Why it matters: The damage estimates in the Oxera report for the International Chamber of Commerce for 2014-2023 roughly equate to those of the 2008 global financial crisis and ICC secretary-general John Denton said "the economic impact of climate change" needs a "response of similar speed and decisiveness," per CNN.

What they did: The report's researchers examined nearly 4,000 events that occurred over the 10-year period which impacted 1.6 billion people.

What they found: In the last two full years of the report alone, global economic damages reached $451 billion. That's a 19% rise compared to the previous eight years of the decade, according to the researchers.

• The U.S. had the greatest economic losses over the period from 2014-2023 ($934.7 billion), followed by China at $267.9 billion and India ($112 billion).

Yes, but: Per capita, the French part of the small island of Saint Martin incurred the greatest cost: $5.1 million in total, but the average cost per person was $158,886.

• U.S territory Puerto Rico, which has yet to full recover from 2017's devastating Hurricane Maria, was fifth on the worst-affected nations per capita.
• The U.S. was 10th in these rankings.

See rankings and more:

https://www.axios.com/2024/11/11/extreme-weather-economic-cost-climate-change-cop29

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Such reports are predicated on the assumption that added greenhouse gases have a known (And High) climate sensitivity.
It starts by assuming that a doubling of the CO2 level will cause 3C of warming like the IPCC claims.
With that as an assumption, they can attribute some portion of warming since 1900 to added greenhouse gases.
They start by finding the log multiplier from the stated assumption. 3C/ln(2) = 4.32.
They then look at the increase in the greenhouse gas levels. NOAA AGGI, Between 1900 and 2019 the AGGI increased from
315 ppm to 518 ppm, which sets up the equation 4.32 X ln(518/315) = 2.14C, and because we have not warmed that much they claim there is warming in the pipeline, but attribute 100% of the observed warming to added greenhouse gases.
They then imply that any unusual observed weather event would not have happened but for the added greenhouse gases.
The reality is far different, weather is of it's own nature extreme, Hurricanes happened long before anyone thought of AGW.
Blizzards happened, tornados happened, as well as extreme rainfall events.
Our climate is changing, and Human activity is contributing, but the Human portion is likely not changing what the climate
was doing anyway. The observed data is saying that our recent warming since 1978 is most likely from increased sunlight reaching the surface.
The sunlight was already there, but our air pollution blocked the amount of available sunlight from reaching the surface.
We in fear of a new ice age changed the laws, and cleared the skies, and caused a rapid increase in sunlight reaching the surface.

$2 trillion in ten years is a ridiculously low estimate. Have we taken into account that Donnie and the Trumpettes will gut the EPA, weaken every piece of anti-pollution legislation and, with the help of the Chevron decision, put inmates in charge of the asylum?

Aren't all weather events climate related?

DashingAmerican said:

Aren't all weather events climate related?

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Might do some good reading this. There is a huge difference in what you stated. SMH

Credence said:

Might do some good reading this. There is a huge difference in what you stated. SMH

Extreme Weather - NASA Science

As Earth’s climate changes, it is impacting extreme weather across the planet. Record-breaking heat waves on land and in the ocean, drenching rains, severe

science.nasa.gov

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It is a valid question to ask what the climate would be doing without any human impact?
We are in a long term warming trend, that will continue until Earth starts to cool going into the next glacial period.

Every year someone brings up some stupid report like this. Considering all the changes not only in population and inflation, but new buildings in palaces that did not exist before....

There is really no merit in these reports when you look at the details.