Losses from Extreme Weather Could Hit $5 Tril.
12:28 JST, October 20, 2023
LONDON (Reuters) — Global economic losses could reach $5 trillion under a “plausible increase” in extreme weather events linked to climate change that cause crop failures and food and water shortages, insurance marketplace Lloyd’s of London said on Oct. 11.
Lloyd’s, which carried out the research alongside the Cambridge Centre for Risk Studies, stressed that its “systemic risk scenario,” which models the global economic impact of extreme weather, was hypothetical. But it said the work would improve business and policymaker understanding of their exposure to critical threats such as extreme weather.
When adjusting the estimated $5 trillion in losses over a five-year period for the probability of those extreme weather events occurring, the expected global economic losses were $711 billion, Lloyd’s said.
"Science & Nature" POPULAR ARTICLE
-
Project to Mass Produce Japanese Glass Eels Succeeds in Reducing Costs; Pilot Scheme Brings Down Costs to ¥1,800 Per Fish
-
Namibia Fossil is ‘Swamp Thing’ with Menacing Fangs
-
Drones, Smartphones to Be Used to Assess Flood Damage; Cabinet Office Approves Tech to Speed up Disaster Certificate Issuance
-
3rd H3 Rocket Launched Successfully; Daichi-4 Satellite Shot into Orbit (UPDATE 2)
-
Japan to Promote Development of New Research Reactors to Achieve Decarbonization; Ministry Eyes Nuclear Power as ‘Leading Option’
JN ACCESS RANKING
- Prices of over 10,000 Food and Beverage Items to Rise This Year; Figure is down from over 30,000 Last Year
- Sony Group to End Production of Blu-ray Discs; Market Has Shrunk Due To Growth Of Hard Disk Drives, Streaming
- Japan Ministry Concerned Over Same-Sex Couple Receiving City-Issued Resident Certificates Referring to ‘Common-Law Husband’
- Japan Court OKs Sex Change without Surgery
- Pacific Islands Leaders Not Totally in Tune on China Approach as Meeting Ends in Tokyo; Positions Differ on Treated Water, Joint Drills