Climate-related disasters cost the global economy $2 trillion over 10 years, a report finds.

The International Chamber of Commerce (ICC) has released a report estimating that climate-related extreme weather events cost the global economy $2 trillion between 2014 and 2023, comparable to the 2008 financial crisis. The report assessed nearly 4,000 weather events across six continents and found an 83% increase in climate disasters between 1980-1999 and 2000-2019. Economic damages reached $451 billion in 2022 and 2023, a 19% increase from the previous eight years. The ICC urges governments and businesses to accelerate policies to reduce greenhouse gas emissions.

November 11, 2024
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