Last month, two major storms, Hurricane Helene and Hurricane Milton, caused a total of between $51.5 billion and $81.5 billion of property damage, mostly to Southeastern US states, according to estimates from CoreLogic.
That’s a lot of damage – but it’s only a small fraction of what climate change has cost people around the world.
A new report is flashing a warning signal about climate change and natural disasters, finding that their total economic damage has skyrocketed into the trillions.
The report from the International Chamber of Commerce, which comes as the United Nations Climate Change Conference begins in Azerbaijan this week, estimated that the total cost of damage from climate-related extreme weather events globally was approximately $2 trillion between 2014 and 2023 – roughly in line with the economic toll of the 2008 global financial crisis.
Dispatches From The Front 