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: NASA deep-space rocket, SLS, to launch in 2018

add to favorites email to friend print save as pdf

Related Stories

The future of CubeSats

Aug 18, 2014

(Phys.org) —To investigate climate change, scientists and engineers at NASA's Goddard Space Flight Center are developing the IceCube satellite, which will be no larger than a loaf of bread. In 2016, this ...

Recommended for you

Witnessing the early growth of a giant

17 hours ago

Astronomers have uncovered for the first time the earliest stages of a massive galaxy forming in the young Universe. The discovery was made possible through combining observations from the NASA/ESA Hubble ...

Light of life

20 hours ago

A fluorescent microscopic view of cells from a type of bone cancer, being studied for a future trip to deep space – aiming to sharpen our understanding of the hazardous radiation prevailing out there.

User comments : 0