Storm costs to spiral, says report

Jun 29, 2005

The global costs of extreme weather could rise by two-thirds within decades unless governments tackle the causes of climate change, a report warned Wednesday.

The average annual global clean-up cost will reach $27 billion by 2080 -- an increase of 66 percent -- if current rates of climate change continue, the Association of British Insurers said.

The costs of insured damage in a single hurricane season in the United States could rise by three-quarters to $149 million, it added.

Its "Financial Risks of Climate Change" report was based on international research from the Intergovernmental Panel on Climate Change, it said.

"Governments now have a chance to make rational choices for the future, before it is too late," said Director of General Insurance Nick Starling.

"Making the right decisions based on first class assessment of the financial costs of climate change will ensure lower costs for the public in future."

Earlier this week research by University College London suggested Britain could become a string of islands within 200 years should sea levels continue to rise at the current rate.

Copyright 2005 by United Press International

Explore further: Scientists find meteoritic evidence of Mars water reservoir

add to favorites email to friend print save as pdf

Related Stories

Washington governor proposes cap on carbon pollution

Dec 17, 2014

(AP)—Washington Gov. Jay Inslee on Wednesday proposed an ambitious cap-and-trade program to require the state's largest industrial polluters to pay for every ton of carbon they release.

Nuclear should be in the energy mix for biodiversity

Dec 15, 2014

Leading conservation scientists from around the world have called for a substantial role for nuclear power in future energy-generating scenarios in order to mitigate climate change and protect biodiversity.

Recommended for you

SDO captures images of two mid-level flares

11 hours ago

The sun emitted a mid-level flare on Dec. 18, 2014, at 4:58 p.m. EST. NASA's Solar Dynamics Observatory, which watches the sun constantly, captured an image of the event. Solar flares are powerful bursts ...

Why is Venus so horrible?

18 hours ago

Venus sucks. Seriously, it's the worst. The global temperature is as hot as an oven, the atmospheric pressure is 90 times Earth, and it rains sulfuric acid. Every part of the surface of Venus would kill you ...

Image: Christmas wrapping the Sentinel-3A antenna

20 hours ago

The moment a team of technicians, gowned like hospital surgeons, wraps the Sentinel-3A radar altimeter in multilayer insulation to protect it from the temperature extremes found in Earth orbit.

Video: Flying over Becquerel

20 hours ago

This latest release from the camera on ESA's Mars Express is a simulated flight over the Becquerel crater, showing large-scale deposits of sedimentary material.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.