Global Damage From Extreme Weather And Other Disasters Set To Break $200 Billion A Year

The trend in annual damages from global disasters is rising and almost broke $200 billion in 2012, according to World Bank figures released Monday. And three-fourths of the losses are due to extreme weather. The report, which makes the case for greater global investment in climate resiliency and disaster risk management, found that worldwide losses from such events have been steadily rising since at least 1980. “Over the last 30 years, the world has lost more than 2.5 million people and almost $4 trillion to natural disasters,” said Rachel Kyte, World Bank Vice-President for Sustainable Development, citing work from the global reinsurance giant Munich Re. “And three quarters of those losses are a result of extreme weather.”