Extreme Weather Costs US Nearly $100 Billion a Year

Thor Benson

February 28, 2024

The increased frequency of natural disasters caused by climate change is having major economic effects, according to reinsurance company Swiss Re.

The climate crisis is already having a major impact on the U.S. economy, and the damages are only going to increase.

A new report from the reinsurance company Swiss Re estimates climate change is currently costing the U.S. roughly $97 billion per year. This cost comes from the increased frequency of natural disasters that are connected to climate change, which is driven by the burning of fossil fuels.

“Climate change is leading to more severe weather events, resulting in increasing impact on economies,” said the Swiss Re group’s chief economist Jerome Jean Haegeli. “Therefore, it becomes even more crucial to take adaptation measures.”

To read the full article, click here:

https://www.commondreams.org/news/climate-change-cost-u-s-yearly#:~:text=A%20new%20report%20from%20the,the%20burning%20of%20fossil%20fuels.