Over the past decade, natural disasters caused primarily by climate change have caused a loss of about 0.3 percent of global GDP annually, according to figures from Swiss RE Insurance.
More broadly, climate-related disasters have cost the world more than $200 million in daily losses over the past 50 years. These figures are at risk of rising further if the world does not act fast enough to keep warming within the required levels and reach net zero emissions by 2050.
Many think tanks and international donor institutions estimate that the global economy will suffer an estimated $23 trillion in losses by 2050 from global warming.
Source (Al-Arab Newspaper of London, Edited)
