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: Greenland darkening to continue, predicts CCNY expert Marco Tedesco

Related Stories

European physicist discusses Higgs boson at Brown University

28 minutes ago

The head of the European Organization for Nuclear Research says the historic 2012 discovery of the Higgs boson particle and the particle accelerator that detected it are getting scientists closer to understanding the creation ...

IBM earnings dip as sales fall again

47 minutes ago

Technology heavyweight IBM reported Monday lower profits in the first quarter following another drop in revenues, this time partly due to the strong dollar.

Recommended for you

The riddle of galactic thin–thick disk solved

11 hours ago

A long-standing puzzle regarding the nature of disk galaxies has finally been solved by a team of astronomers led by Ivan Minchev from the Leibniz Institute for Astrophysics Potsdam (AIP), using state-of-the-art ...

Giant cosmic tsunami wakes up comatose galaxies

13 hours ago

Galaxies are often found in clusters, with many 'red and dead' neighbours that stopped forming stars in the distant past. Now an international team of astronomers, led by Andra Stroe of Leiden Observatory ...

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.