Climate Disasters Cost the Global Economy
The surge of extreme weather events has transformed from a growing climate risk into a massive economic burden, with global costs expected to exceed $20 trillion over the next decade. The report highlights that these losses open up opportunities to expand insurance and reinsurance markets, as well as to develop solutions that enhance energy efficiency and climate adaptation. Estimates indicate that the rising costs demand urgent measures to better mitigate the impacts of extreme weather phenomena and to cover their economic consequences more effectively.
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