Four of the ten most costly events took place in Asia, with floods and typhoons costing a total of $24 billion. But the impact of extreme weather events has been felt the world over. In March, flooding in Australia displaced 18,000 people and caused $2.1 billion worth of damage, while flooding in British Columbia, Canada, caused $7.5 billion worth of damage and forced 15,000 people to flee their homes.
Reacting to the new report, Rachel Mander, a member of the Young Christian Climate Network and among the activists present at COP26, said: “Climate change will bankrupt us, and along the way we’ll lose a lot more than money. To avoid this eventuality, we need to take courageous action – ensuring that the burden of costs is spread and does not exacerbate global inequalities, while making activities that promote climate change more costly.”
