Rising economic damage caused by weather and climate-related disasters has been highlighted in an updated report by the United Nation’s weather agency, the World Meteorological Organisation (WMO).
The report reveals that over the past 50 years, nearly 12,000 extreme weather, climate, and water-related events worldwide have resulted in the loss of more than 2 million lives and caused economic damages amounting to USD 4.3 trillion. However, improvements in early warning systems have helped reduce the human causality toll.
During its four-yearly congress, the WMO emphasized the need for further enhancements to alert systems for extreme weather events by 2027. The agency stressed that although economic losses have soared, coordinated disaster management and improved early warnings have contributed to a decline in the number of human casualties over the past half-century. Nonetheless, the report warns that the trend of increasing economic damage is expected to continue.
Attributing the rise in extreme weather events to man-made climate change, the WHO points out that rising temperatures have intensified the frequency and severity of floods, hurricanes, cyclones, heat waves, and droughts. While early warning systems have proven effective in reducing deaths related to climate and weather-related disasters, the economic impact has been disproportionately felt in developing countries, where nine out of ten deaths occurred.
The report highlights that the United States experienced the highest economic damage between 1970 and 2021, amounting to USD 1.7 trillion. Meanwhile, developing countries suffered the majority of deaths and faced a higher economic impact relative to their gross domestic product.
According to reports, WMO Secretary-General Petteri Taalas cited the recent cyclonic storm Mocha, which affected Myanmar and Bangladesh, as an example of vulnerable communities bearing the brunt of weather-related hazards. He emphasized the importance of early warnings and disaster management in reducing catastrophic mortality rates.
The updated report, part of WMO's Atlas of Mortality and Economic Losses from weather, climate, and water extremes, acknowledges some limitations. While the increase in reported disasters may partially stem from improved reporting, the economic toll estimation remains an imprecise science, potentially understating the true extent of the damage.
Tropical cyclones emerged as the primary cause of reported human and economic losses globally. In Africa, over 1,800 disasters resulted in 733,585 deaths attributed to weather, climate, and water extremes, with the costliest event being Tropical Cyclone Idai in 2019, which incurred USD 2.1 billion in damages.
