A Study Shows That Extreme Weather Has Caused Huge Financial Losses All Around The World In 2021


Image Credit – Economic Times


A recent report has shared the facts about these climate changes and extreme weathers that 2021 has seen have caused huge monetary losses. This report by Christian Aid Counting the cost 2021 has denoted this year as ‘A year of climate breakdown’.

This year has seen over 10 hugely destructive climate disasters. And these extreme climates have cost over $1.5 billion.

The charity Christian aid report included disasters like cyclone Yaas, which affected several parts of India and Bangladesh last May. This cyclone has cost $3 billion in just a few days to mend the losses caused by this disaster.

The biggest financial loss was caused by Hurricane Ida which hit the US in August. Killing 95 and costing 65 billion dollars.

The second biggest weather disaster was the floods in Europe, killing 240, which costs over 43 billion dollars.

The floods in China’s Henan province caused 17.5 billion dollars. This has killed 320 people and displaced many people.

While the report showcases mostly the financial losses of several countries. The richer countries have higher financial losses as their property values are higher. But much poorer have seen some huge disasters but the financial losses are much lesser than the others.

In addition to this report of financial costs, each of these weather destructions has caused severe human suffering from food insecurity to Drought. Many have lost their homes and last of their personal belongings.

South Sudan has faced terrible floods, which have forced more than 850,000 people to leave their homes and flee to save their lives. And East Africa is still suffering from the extreme damages and drought caused by these weather changes.

The Parana River drought in South America, this river was a vital part of the economy of this region. It had gone down to its lowest level in 77 years impacting the livelihood in Brazil, Argentina, and Paraguay.

Four of these 10 devastating climate events took place in Asia. These floods and typhoons which Asia faced have killed a huge number of people, costing over 24 billion dollars.

Australia suffered floods that displaced 18,000 people last March. This has cost 2.1 billion dollars. Similarly in Canada’s British Colombia faced the damage of 7.5 billion dollars due to the floods, causing 15,000 to flee their homes to save their lives.

Still, the data on the recent tornados in the US is incomplete and was not included in this report. This would have made the report more frightening.

Jerry Simmons

I am Jerry Simmons and I focus on breaking news stories and ensuring we (“Digital Wall”) offer timely reporting on some of the most recent stories released through market wires about “Financial” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Digital Wall specializing in quicker moving active shares with a short term view on investment opportunities and trends. <strong>Address:</strong> 4042 Braxton Street, Sterling, IL 61081, USA <strong>Phone:</strong> (+1) 815-535-4324 <strong>Email: </strong>[email protected]

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