Losses from extreme weather rise to $200 billion a year over past decade

Via Nina Chestney WARSAW (Reuters) – Global financial losses caused by excessive climate occasions have risen to nearly $200 billion a yr over the last decade and look set to increase further as climate trade worsens, a record by means of the World Bank showed on Monday. A United Nations’ panel of scientists has warned that floods, droughts and storms are likely to turn into extra extreme over the next century as greenhouse gas emissions warm the world’s climate. “Financial losses are rising – from $50 billion every year in the 1980s to simply below $200 billion each and every year within the remaining decade and about three quarters of those losses are as a result of the extreme climate,” mentioned Rachel Kyte, World Bank Vice President for Sustainable Building.