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Climate-related disasters cost the world $200bn 2009-01-08
Financial damage caused by climate- related natural disasters made 2008 one of the most devastating years on record as costs associated with weather-related catastrophes are put at about $200bn in 2008. This amount is double the losses incurred in 2007.
Munich Re, the world’s biggest re-insurer and the United Nations Environment Programme (UNEP) Finance Initiative partner which gave the breakdown said insured losses of $45bn were 50 per cent more than in the previous year. Hurricane Ike cost insurers $15bn in the United States.
Climate extremes, including devastating floods, severe droughts, snow storms, heat waves and cold waves marked the year just as ice volume in the Arctic dropped to its second-lowest level.