Axios
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 report 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…
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Report: Extreme weather cost world economy $2 trillion, and U.S. took biggest economic hit
Rebecca Falconer
11:24
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 report for 2014-2023