Extreme Weather Inflicts $2 Trillion Economic Toll Globally Over Past Decade

A new report reveals the U.S. suffered the greatest economic losses as world leaders convene at COP29 to discuss urgent climate action.

The International Chamber of Commerce report highlights that climate-related extreme weather events have cost the global economy over $2 trillion from 2014 to 2023.
The U.S. experienced the highest economic losses, totaling $934.7 billion, followed by China and India.
Recent years have seen a significant rise in damages, with economic losses reaching $451 billion in 2022 and 2023 alone.
The report stresses the need for rapid and decisive climate action, urging world leaders to accelerate financial support for developing nations.
Experts indicate that the reported figures may underestimate the true impact on poorer communities and vulnerable countries.